Wise shares plunge 10% after fintech firm projects slower growth this year
Publishing timestamp: 2024-06-13 08:38:10
Summary
Wise projects lower income growth for the current fiscal year, causing a drop in their stock price. Despite implementing price reductions, the company expects 15-20% income growth for the full year ending March 2025, lower than the 31% growth reported for the previous fiscal year. Analysts view the guidance as disappointing initially but believe the price cuts will boost confidence in medium-term growth. Wise ended the year with 12.8 million active customers and processed 118.5 billion worth of cross-border transactions.
Sentiment: MIXED
Tickers: WISE-GB,
Keywords: wise plc, breaking news: markets, breaking news: technology, business news, markets, fintech, technology,
Source: https://www.cnbc.com/2024/06/13/wise-shares-plunge-after-fintech-projects-slower-growth.html