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Zip revenue more than doubles amid rapid US growth
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Zip Co’s revenue doubled in the June quarter compared with last year led by a further surge in its United States business, as buy now pay later (BNPL) operators jostle to sign up customers.
Zip, a key ASX-listed rival to Afterpay, on Thursday reported a 104 per cent jump in revenue across the group to $129.9 million after a quarter in which it announced plans to launched into the European market.
Zip Co chief executive Larry Diamond says the company has delivered record numbers in all of the regions in which it operated.
Zip (ASX:Z1P) share price sinks 6% following Q4 update
This BNPL provider’s shares are sinking on Thursday…
James Mickleboro has been a Motley Fool contributor since late 2015. After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. This was the start of a love affair with Australian equities and he hasn t looked back since. James is part of the CFA Institute s Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns.