The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksWise Plc Share News (WISE)

Share Price Information for Wise Plc (WISE)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
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
WISE Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Wise upgrades guidance as customer growth boosts income

Tue, 16th Jan 2024 10:26

(Alliance News) - Wise PLC on Tuesday reported increases to quarterly revenue and income, as the company said "customer momentum continues to power growth".

The London-based money transfer services provider reported GBP375.1 million in income for the third quarter ended December 31, up 40% from GBP268.7 million in 2022. Revenue rose 23% to GBP276.6 million from GBP225.2 million over the same period.

Cross-border volume was up 16% to GBP30.6 billion from GBP26.4 billion, with volume growth seen particularly among customers sending under GBP10,000 per month, Wise said.

The company's account balances were also at GBP12.9 million, up from GBP10.1 million at the end of the 2023 third quarter.

Wise said that this growth was down to "customer momentum", as the group managed to grow its active customer base 30% in the quarter to 7.5 million over the three months. Active personal customers and active business customers increased 30% and 23% since last year, respectively.

The company attributed this to the adoption of the Wise Account. The company claimed that customers "love" Wise account's features, and that this is "driving active customer growth".

Wise also claimed that the high use of multiple features across the Wise account, such as using the card or transferring money abroad, is promising, believing that customers who use multiple features "transact more often and have higher retention levels".

As a result of the encouraging results, Wise has upgraded its growth guidance to between 42% and 44% from previous guidance of 33% to 38%. The company expects its adjusted margin of earnings before interest, tax, depreciation and amortisation to remain at the medium guidance of around 20%.

Co-founder and Chief Executive Officer Kristo Kaarmann 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".

Shares in Wise PC were down 0.4% at 875.00 pence each in London on Tuesday morning.

By Hugh Cameron, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
12 Oct 2023 07:23

Wise hikes guidance after strong second quarter

(Sharecast News) - Payments specialist Wise upgraded its guidance on Thursday in the wake of a solid second-quarter performance.

Read more
10 Oct 2023 08:59

LONDON BROKER RATINGS: DZ Bank raises BAE Systems to 'buy' from 'hold'

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

Read more
15 Sep 2023 09:18

LONDON BROKER RATINGS: Berenberg likes Intertek; Goldman ups Derwent

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
11 Sep 2023 12:00

IN BRIEF: Schiehallion Fund says start-up valuations now more tempered

Schiehallion Fund Ltd - Guernsey-based investor in later-stage private businesses that have the potential to become publicly listed - Net asset value per ordinary share on July 31 is 109.50 US cents, down 8.3% from 119.42 cents on January 31. Schiehallion Fund doesn't pay a dividend, so NAV total return for the period, its financial first half, also is negative 8.3%. Share price fares much worse, falling by 28% to 66.00 cents from 92.00 cents, meaning the discount widens to 40% from 23%. The fund says asset price volatility is reduced in the recent six months, and its holdings in public companies, such as Wise PLC and Airbnb Inc, are positive contributors to NAV.

Read more
31 Aug 2023 15:51

UK shareholder meetings calendar - next 7 days

Friday 1 September 
Totally PLCAGM
Triple Point Income VCT PLCGM re voluntary liquidation
Monday 4 September 
Concurrent Technologies PLCGM re acquisition of Phillips Machine & Welding Co Inc
Tuesday 5 September 
Brickability Group PLCAGM
DS Smith PLCAGM
Iomart Group PLCAGM
Lookers PLCGM and court meeting re takeover by Global Auto
MGC Pharmaceuticals LtdGM re approval to issue SPP and shortfall options
Renold PLCAGM
Wednesday 6 September 
Alpha Financial Markets Consulting PLCAGM
Ashtead Group PLCAGM
Halfords Group PLCAGM
Mears Group PLCGM re cancellation of the share premium account
Omega Diagnostics Group PLCAGM
Severfield PLCAGM
Solid State PLCAGM
Taylor Maritime Investments LtdAGM
Yellow Cake PLCAGM
Thursday 7 September 
Chariot LtdAGM
Chaarat Gold Holdings LtdGM re sale of Chaarat Kapan
Currys PLCAGM
De La Rue PLCAGM
ECO Animal Health Group PLCAGM
Jet2 PLCAGM
LXI REIT PLCAGM
Mulberry Group PLCAGM
Powerhouse Energy Group PLCAGM
Semper Fortis Esports PLCAGM
Sivota PLCGM re directors' remuneration policy
Speedy Hire PLCAGM
Wise PLCAGM
XPS Pensions Group PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
31 Aug 2023 12:52

Wise breached Russia sanctions with £250 payment, says OFSI

(Sharecast News) - The UK government announced on Thursday that financial services firm Wise Payments had violated Russia sanctions regulations in June last year.

Read more
22 Aug 2023 08:49

Wise 'hard to match' on price and speed, says Numis

(Sharecast News) - Numis has upgraded its forecasts and retained its 'buy' stance on foreign exchange platform Wise after a stronger-than-expected start to the new financial year.

Read more
8 Aug 2023 14:59

UPDATE: Wise marketing chief sells 25,000 more shares for GBP188,850

Wise PLC - London-based money transfer provider - Chief Marketing Officer Cian Weeresinghe sells 25,000 shares at a price of GBP7.554 each on Monday. Total aggregate value is GBP188,850. Wise also says on Tuesday that Weeresinghe sells 25,000 shares at GBP7.61 each, worth GBP190,250, in London on Thursday last week.

Read more
8 Aug 2023 13:48

IN BRIEF: Wise chief marketing officer sells GBP190,000 in shares

Wise PLC - London-based money transfer provider - Chief Marketing Officer Cian Weeresinghe sells 25,000 shares at GBP7.61 each, worth GBP190,250, in London on Thursday last week.

Read more
1 Aug 2023 18:20

IN BRIEF: Wise CFO sells GBP242,800 shares to cover tax liabilities

Wise PLC - London-based money transfer provider - Chief Finance Officer Matthew Briers sells 31,655 shares at GBP7.669323 each on Tuesday to cover tax and social security liabilities. Total aggregate value is GBP242,849.

Read more
25 Jul 2023 13:11

IN BRIEF: Wise chief technology officer sells GBP560,000 in shares

Wise PLC - London-based money transfer provider - Chief Technology Officer Harsh Sinha sells 75,000 shares at GBP7.52, worth GBP563,821, on Friday last week. On Tuesday last week, Wise said revenue in the first quarter of its financial year rose by 29% on a year before, and it left its outlook for the full-year unchanged.

Read more
24 Jul 2023 09:06

LONDON BROKER RATINGS: Deutsche Bank cuts Hargreaves Lansdown to sell

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more
18 Jul 2023 11:58

LONDON MARKET MIDDAY: Ocado leads way but FTSE 100 flat

(Alliance News) - London's FTSE 100 was ever-so-slightly higher heading into Tuesday afternoon, supported by gains for housebuilding stocks on hope UK inflation is easing, and grocer Ocado.

Read more
18 Jul 2023 09:44

Wise first-quarter revenue up with strong customer and volume growth

(Alliance News) - Wise PLC on Tuesday reported that its revenue in its first quarter increased, and it left its outlook for the full-year unchanged.

Read more
18 Jul 2023 07:28

Wise holds guidance as Q1 on higher interest rates, customers

(Sharecast News) - London-listed fintech firm Wise held annual guidance after reporting a rise in first-quarter revenue driven by higher customer numbers and interest rates.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.