Australia's Zip hits over 2-1/2-year low after fraud event weighs on quarterly results

Zip

23/10/2026 01:19

** Shares of ZIP ZIP.AX fall as much as 50.5% to A$1.025, their lowest level since March 4, 2024
** The buy-now, pay-later firm said external fraud event in the US in its fiscal first quarter temporarily weighed on transaction volumes and customer growth
** Fintech firm posts 1Q27 cash EBTDA of A$65 million, up 3.4% from a year before, but misses Citi's forecast of A$78 million by 17%
** Lower-than-expected quarterly EBTDA primarily due to fraud-related costs of A$10 million, says Citi
** About 46.1 million shares change hands, 3x 30-day average
** Stock down 55% YTD, including the day's move


 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))