Zip Co (ASX:Z1P) see $45 million revenue for the quarter

Company News

by Rachael Jones

Fintech company Zip Co (ASX:Z1P) reports  for the quarter ended 31 March 2020 (Q3 FY20) that they delivered a strong set of quarterly numbers against a backdrop of economic uncertainty generating $45 million in revenue over the quarter, which was 96 per cent higher than the same period in 2019.

ANZ transaction volume annualising at $2.1 billion.

In April, trading month-to-date (the first 7 days of the month), Zip has seen a 6 per cent uplift in transaction volume compared to March, and a 15 per cent increase to February.

This quarter saw Zip sign first global payments deal with the Cotton On Group across Australia, New Zealand, UK, South Africa and the US.

Shares in Zip Co (ASX: Z1P) are trading 5.1 per cent higher at $2.27.