Australia's Zip posts record quarterly cash earnings, raises fiscal 2025 forecast

Zip Co

16/04/2025 01:40

April 16 (Reuters) - Australian buy-now-pay-later firm Zip Co ZIP.AX posted record quarterly cash earnings on Wednesday, helped by strong performance from its U.S. operations and raised its fiscal 2025 earnings forecast, sending its shares higher.

Shares of the company rose as much as 14.9% to A$1.70 as at 0031 GMT, hitting their highest level since March 28. The company was the top gainer on the benchmark index .AXJO.

The company's earnings before taxes, depreciation and amortization (EBTDA) for the three months ended March 31, 2025, were A$46.0 million ($29.16 million), up 219.4% from the same period last year.

Zip now expects fiscal 2025 EBTDA of at least A$153.0 million, higher than earlier outlook of A$147.0 million.

($1 = 1.5773 Australian dollars)

 (Reporting by John Biju in Bengaluru; Editing by Alan Barona)

 ((John.Biju@thomsonreuters.com))