/payments

News and resources on payments systems, innovations and initiatives worldwide.

Wise shares dip on forecast for slower income growth

Shares in Wise fell more than 10% on Thursday after the money transfer firm forecast slower annual revenue growth.

Be the first to comment

Wise shares dip on forecast for slower income growth

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The UK firm saw its stock down 11% at 5.30pm BST, after tumbling more than 20% earlier on Thursday following the publication of full year results.

Wise posted underlying income growth of 31% for the year ending 31 March. However, the company is expecting growth of 15% to 20% for 2025, below market expectations.

The share price fall comes despite a 29% growth in Wise's active customer base to 12.8 million. Pre-tax profits more than tripled to £481 million on revenues of more than £1 billion, up 24% year-on-year.

Kristo Käärmann, CEO, Wise, says: "We are investing in infrastructure and customer experiences to serve as much of this huge, under-served cross-border payments market as possible, including starting FY25 by reducing fees further for our customers."

Sponsored [Webinar] Microservice Architecture: The answer to modern payments processing

Related Company

Comments: (0)

[New Report] Payments Modernisation: The Big Survey 2024Finextra Promoted[New Report] Payments Modernisation: The Big Survey 2024