Menu
  • Home
  • London Exchange
  • Euronext
  • Australian Exchange
  • Wire
  • Contact Us
  • Business & Finance
NewsnReleases

Digital payments firm, Wise, reports 55% increase in profit

Posted on November 6, 2024November 6, 2024

The British digital payments firm, Wise, reported a 55% increase in profit for the first half of its 2025 fiscal year, reaching £217.3 million, up from £140.6 million a year ago. This growth was driven by a 25% increase in active customers, totaling 11.4 million consumer and business clients. Revenues rose 19% year-on-year to £591.9 million.

Earlier this year, Wise issued a sales warning, causing shares to drop by up to 21%. In June, the company forecasted a 15-20% year-over-year income growth for fiscal 2025, down from 31% in the previous year, due to a series of price reductions. Despite this, Wise reported a 17% increase in underlying income for Q2 2024.

Wise’s underlying profit before tax (PBT) margin for the first half was 22%, above its target range of 13-16%. However, due to investments in reducing pricing, this margin is expected to drop to the target range for the second half of fiscal 2025.

Additionally, CEO Kristo Käärmann was recently fined £350,000 by the U.K.’s Financial Conduct Authority for failing to report a tax issue.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Track all markets on TradingView

Investing.comThe Exchange Rates are powered by Investing.com.

Site Navigation

  • Home
  • Listed Companies
  • Contact Us
  • London Stock Exchange
  • Singapore Exchange
  • Canadian Exchange
  • Australian Exchange
  • Oslo Bourse
  • PSX
  • Ratings
  • Euronext
  • MENA
  • Nasdaq Nordic
  • Wire
  • Business & Finance
  • Gadget Reviews
  • About Us: A Comprehensive Financial News Database

All news and articles on NewsnReleases are based on press releases, corporate announcements and analysts’ reports issued to London Stock Exchange (LSE), Euronext, Singapore Exchange (SGX), Japan Stock Exchange (JPX), Dubai Financial Market (DFM), Saudi Stock Exchange (Tadawul), Qatar Stock Exchange (QSE), BSEIndia, Australia Stock Exchange etc.

Listed Companies

Equity Markets and Stock Exchanges

NNR
©2025 NewsnReleases | WordPress Theme by Superb WordPress Themes
Menu
  • Home
  • London Exchange
  • Euronext
  • Australian Exchange
  • Wire
  • Contact Us
  • Business & Finance