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How has the Zip (ASX:Z1P) share price performed since reporting results?

The buy now, pay later trend continues to gain traction with Aussie consumers.
The post How has the Zip (ASX:Z1P) share price performed since reporting results? appeared first on The Motley Fool Australia. –

The Zip Co Ltd (ASX: Z1P) share price closed down 1.5% on Thursday, finishing the day at $6.65.

That came as the broader S&P/ASX 200 Index (ASX: XJO) ended in the green, up 0.6%.

It’s been just over 3 weeks now since the buy now, pay later (BNPL) company reported its full year results for the 2021 financial year (FY21).

With investors now having had plenty of time to digest those results, we take a look below at how the Zip share price has performed since reporting.

First, a quick recap of those results.

What results did the ASX 200 tech share report for FY21?

The Zip share price was on investor radars on 25 August, the day it released its FY21 results.

Some of the key results Zip reported include a 150% year-on-year leap in revenue, to $403.2 million.

The BNPL company saw its transaction volumes surge to $5.8 billion. That was up 179% from the $2.1 billion reported in FY20.

Cash gross profits also surged, up 147% year-on-year to $198 million. And the company’s active merchants more than doubled, up 109% to 51,300 merchants.

Zip has not historically paid a dividend and did not declare one for FY21.

Commenting on the continuing rise of BNPL methods among consumers, Zip CEO Larry Diamond said:

The trend and shift away from the unfriendly world of credit cards that was the genesis of the Australian business has proven to be a global phenomenon, and Zip continues to accelerate in all our key markets.

How has the Zip share price moved since reporting those results?

Despite its strong growth results, the Zip share price fell 2.6% on the day it reported.

Since market close on 24 August (the day before reporting) Zip’s shares are down 9.2%.

By comparison, the ASX 200 has fallen 0.6% over that same time.

The post How has the Zip (ASX:Z1P) share price performed since reporting results? appeared first on The Motley Fool Australia.

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More reading

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Why Australian Ethical, Brambles, Novonix, & Zip shares are tumbling lower

Leading brokers name 3 ASX shares to sell today

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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