Zip share price jumps 11% on record half year result
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The Zip Co Ltd (ASX: ZIP) share price is jumping on Tuesday.
In morning trade, the buy now pay later (BNPL) provider’s shares are up 11% to $2.65.
This follows the release of its half year results this morning.
Zip share price jumps on half year results
- Total transaction value (TTV) up 23.9% to $6.2 billion
- Total income up 19.8% to $514 million
- Revenue margin down to 8.2% (from 8.5%)
- Cash gross profit up 30.1% to $235.5 million
- Cash EBTDA up 117.1% to $67 million
- Net bad debts down to 1.6% of TTV (from 1.8%)
What happened during the half?
For the 12 months ended 31 December, Zip reported a 23.9% increase in TTV to $6.2 billion. This growth was driven entirely by a 40.3% increase in US TTV to US$2.9 billion…
