Zip Co (Z1P) shares flat on FY21 result
FY21 Result: not a lot of ‘earth shattering news’ from the BNPL company today with results in line with expectations. They did report a bigger than expected loss due to heavy investment in marketing and global expansion initiatives however that will (hopefully) pay growth dividends down the track. FY22 has started strongly and importantly, we’re comparing this year with a strong period last year which makes growth a tougher ask. The USA on a TV basis is up +240% (which would put it materially ahead of our analysts at Shaw Jono Higgins expectations if held) while and ANZ is +55%. Growth the key here and the quarterly trading updates are more important in that regard. All in all, a solid result and investment thesis remains. Shares are trading flat at time of writing.
