At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. The benchmark index is currently up 0.3% to 7,524.1 points.
Here’s what is happening on the ASX 200 today:
Afterpay results
The Afterpay Ltd (ASX: APT) share price is largely flat on Wednesday after the release of its full year results. The soon to be acquired buy now pay later provider reported a 90% increase in underlying sales to $21.1 billion and a 78% jump in total income to $924.7 million. This was driven by increased repeat use and a 63% increase in active customers to 16.2 million. Management advised that the Square-Afterpay transaction is on track to complete in the first quarter of calendar year 2022.
WiseTech Global share price rockets after smashing guidance
The WiseTech Global Ltd (ASX: WTC) share price is rocketing higher today after smashing its earnings guidance in FY 2021. The logistics solutions platform provider was targeting full year revenue of $470 million to $510 million and EBITDA of $165 million to $190 million. This morning it reported an 18% increase in revenue to $507.5 million and a 63% jump in EBITDA to $206.7 million. Looking ahead, management is guiding to EBITDA growth of 26% to 38% in FY 2022.
Zip shares lower on results
The Zip Co Ltd (ASX: Z1P) share price is trading lower on Wednesday following the release of its full year results. For the 12 months ended 30 June, the buy now pay later provider reported a 150% increase in revenue to $403.2 million. This was driven by a 178.5% jump in transaction volume to $5.8 billion, which was underpinned by a 247.5% increase in customer numbers to 7.3 million. The company also revealed that so far in FY 2022 total transaction value was up 58% in Australia and 240% in the United States.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Wednesday by some distance has been the WiseTech share price with a 27% gain. This follows its stronger than expected full year results. The worst performer has been the Reece Ltd (ASX: REH) share price with a 9% decline. The plumbing parts company released its full year results after the market close on Tuesday.
The post ASX 200 midday update: WiseTech rockets, Afterpay & Zip report appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of August 16th 2021
More reading
- Wisetech (ASX:WTC) share price soars 23% as profit doubles in FY21
- Zip (ASX:Z1P) share price sinks despite 150% increase in revenue
- WiseTech (ASX:WTC) share price on watch after smashing FY 2021 earnings guidance
- Afterpay (ASX:APT) share price on watch after reporting 90% sales growth
- 5 things to watch on the ASX 200 on Wednesday
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, WiseTech Global, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/3B7gmNi
Leave a Reply