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Pin to quick picksWise Plc Share News (WISE)

Share Price Information for Wise Plc (WISE)

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Share Price: 788.00
Bid: 784.00
Ask: 785.50
Change: -3.50 (-0.44%)
Spread: 1.50 (0.191%)
Open: 791.00
High: 792.50
Low: 780.50
Prev. Close: 791.50
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Wise lifts full-year guidance on strong quarter

Tue, 16th Jan 2024 10:10

(Sharecast News) - Wise lifted its full-year guidance on Tuesday, boosted by a jump in active customers during the third quarter.

Updating on trading, the money transfer specialist said active customers grew 30% year-on-year to 7.5m in the three months to December end. More customers were also using multiple features, it noted.

As a result, third-quarter income jumped 40% to £375.1m, ahead of analyst expectations.

Cross border volume was £30.6bn, up 16% or 18% on a constant currency basis, while revenues rose 23% to £276.6m.

The firm therefore lifted its guidance for income growth in the year to 31 March 2024, to around 42% to 44%. It had previously forecast income growth of around 33% to 38%.

Kristo Kaarmann, co-founder and chief executive, said: "I am pleased to report another quarter of progress as we work towards our mission of building the best way to move and manage the world's money.

"We've sped up global US dollar payments, by optimising payouts with one of our banking partners, and expanded our Wise Interest Asset offering in seven European markets, including France and Spain.

"This progress speaks to the strength of our fundamentals, leading to continued strong financial performance."

As at 1000 GMT, shares in Wise were down 1% at 868.6p.

Jefferies flagged "resilience in customer growth and take rate beat, but continuous slowdown in core total payment volume rate remains key concern". The broker has a 'hold' rating on the stock and a price target of 717p.

Neil Wilson, chief market analyst at Markets.com, said: "Wise shares fell a beat but mainly on net interest income, which is a little lumpy and less reliable. Good figures, but well-priced versus peers."

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22 May 2023 09:14

IN BRIEF: Wise CFO to step down to focus on recovery from accident

Wise PLC - London-based money transfer firm - Chief Financial Officer Matthew Briers will step down from his role by March 2024, after eight years in the role, to focus recovering from an accident he had last year, Wise says. Starts a search for a new CFO immediately.

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10 May 2023 10:17

IN BRIEF: Wise CEO Kristo Kaarmann to go on three-month sabbatical

Wise PLC - London-based money transfer firm - Says Chief Executive Officer Kristo Kaarmann will be on sabbatical leave from September to December this year. Chief Technology Officer Harsh Sinha will stand in for Kaarmann as CEO during the interim.

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21 Apr 2023 21:03

London seeks to keep Europe fintech crown despite Brexit

(Alliance News) - From digital bank Revolut to money-transfer group Wise PLC and payments company Checkout, London is Europe's fintech champion and intends on keeping its crown despite Brexit fallout and declining investments.

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19 Apr 2023 09:37

IN BRIEF: Former Trainline CEO to be Wise senior independent director

Wise PLC - London-based money transfer firm - Appoints Clare Gilmartin as senior independent direct with immediate effect. Gilmartin was formerly chief executive of rail and coach ticket platform Trainline PLC. She has been a director on the Wise board since June 2021.

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18 Apr 2023 10:20

Wise shares drop despite guidance-beating annual income growth

(Alliance News) - Shares in Wise PLC dropped on Tuesday, despite the company reporting a sharp surge in fourth-quarter income and revenue, as the average volume per customer fell.

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Wise Q4 revenues rise, volumes disappoint

(Sharecast News) - Foreign exchange technology firm Wise posted improved quarterly revenue and income on Tuesday but disappointed with its Q4 volumes.

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Wise upgrades income guidance as revenue grows in third quarter

(Alliance News) - Wise PLC on Tuesday said more customers than ever are using its platform, as it reported that its third quarter revenue had increased by half.

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17 Jan 2023 10:21

Wise boosted by higher interest rates, lifts FY guidance

(Sharecast News) - Payments firm Wise lifted its full-year total income growth guidance on Tuesday as it benefits from higher interest rates.

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(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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