Zip – Earnings Review
Zip Co is under Algo Engine buy conditions.
Revenue was up 150% to $403m and the pre-tax loss -$718m.
Zip said its cash earnings before tax, depreciation and amortisation loss was $22.9 million, which missed consensus expectations for positive earnings of between $8 million and $9 million.
Its total reported loss of $653 million was just below the total amount of capital that Zip raised over the year to support its global growth.
We’re watching ZIP with a great deal of interest but remain cautious on the sector trends with regards to increasing bad debts.
