Australia's Zip hits near 1-yr high on upbeat qtrly results, HY forecast

Zip Co

21/01/2024 23:50

** Shares of Zip Co  ZIP.AX  rise as much as 15.8% to
A$0.735, their highest level since Jan. 24, 2023 
    ** Co on track for best day since Dec. 15, 2023 - if gains
hold 
    ** Financial services posts 26.1% rise in qtrly revenue 
    ** Co delivers positive group cash EBTDA for 2Q24 driven by
strong seasonal performance in U.S. business
    ** Co sees group cash EBTDA for 1H24 between A$29.0 mln
($19.11 mln) and A$33.0 mln
    ** Co reported 1H23 EBTDA loss of A$33.2 mln 
    ** About 20.3 mln shares change hand compared to 30-day
average trading volume of about 16.0 mln shares 
    ** Stock flat this year as of last close, after rising 24.5%
in 2023 
   


($1 = 1.5175 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))