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Downsized Zip races after revenue jumps in June

Lucas Baird
Lucas BairdReporter
Updated

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Key Points

  • Zip has simplified to an Australian and US buy now pay later provider.
  • There are no immediate prospects for M&A after ditching its Sezzle merger. 
  • Its arrears are performing better than consumer credit data suggests.

Under-pressure buy now, pay later group Zip recorded revenue and transaction growth in the double digits for the June quarter, sending its shares 9 per cent higher on Thursday.

Quarterly revenue was up 21.1 per cent year-on-year to $193.8 million. 

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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com

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    Original URL: https://www.afr.com/companies/financial-services/zip-shares-race-higher-after-revenue-jumps-in-june-20230720-p5dpu9