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Wise shares dip on forecast for slower income growth

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.

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."

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