Business
Why the Zip (ASX:Z1P) share price can go even higher
The Zip Co Ltd (ASX: Z1P) share price was an exceptionally strong performer last week.
The buy now pay later (BNPL) provider’s shares smashed the market with a gain of 13%.
This made the Zip share price the best performer on the ASX 200 index. It also stretched its year to date gain to 67%.
Why did the Zip share price rocket higher?
Investors were bidding the Zip share price higher last week after its third quarter update impressed the market.
For the three months ended 31 March, Zip recorded an 80% increase in group quarterly revenue to $114.4 million. This was driven by strong customer and transaction growth, particularly from its Quadpay business.
Active customers reached 6.4 million globally, up 88% on the prior corresponding…
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