Image Source: © Timonschneider | Megapixl.com
- Zip is making headlines as it shares its Q2 results for the period ending 31 December 2021.
- Despite challenging situations, the company delivers record group quarterly revenue of AU$167.4 million (rise of 58% YoY).
- The growth delivered by the company in the quarter is driven by customer & merchant acquisition, along with the increasing levels of engagement.
ASX-listed Australia based buy now, pay later (BNPL) operator Zip Co Limited (ASX:Z1P), on 20 January 2022, shared its Q2 results for the period ending 31 December 2021. The company revealed that despite challenging situations, Zip delivered another robust set of numbers with growth driven by customer and merchant acquisition, along with the increasing levels of engagement.
The BNPL provider has demonstrated powerful performance in countries like Australia, Canada, New Zealand, the United Kingdom, and the USA. The business has its presence in the Philippines, Poland, Saudi Arabia, Singapore, South Africa, Czech Republic, India and Mexico.
In its Q2 FY22 highlights, the company revealed:
Meanwhile, the stock was spotted trading 1.093% lower at AU$3.620 at 11:20 AM AEDT.
Commenting on this development, Zip’s Managing Director and Global CEO Larry Diamond said that the growing contribution from expansion markets is pleasing and should continue to build in the medium term in line with the company’s global strategy. Nonetheless, the company has said that it is well placed to continue the growth and momentum in 2022.