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(Reuters) - Australian payments firm Zip Co on Monday forecast a bigger half-year loss than analysts' expectation, citing lower consumer spending in the United States as fiscal stimulus money dries up.
The downbeat forecast sent the stock of Australia's biggest standalone buy-now-pay-later (BNPL) company down nearly 7% to its lowest since May 2020.
The BNPL sector in Australia, which saw a meteoric rise during the pandemic as customers thronged to online shopping and preferred alternate source...
>>> Read more: Australia's Zip sees HY loss as fiscal stimulus money dries up in United States
The downbeat forecast sent the stock of Australia's biggest standalone buy-now-pay-later (BNPL) company down nearly 7% to its lowest since May 2020.
The BNPL sector in Australia, which saw a meteoric rise during the pandemic as customers thronged to online shopping and preferred alternate source...
>>> Read more: Australia's Zip sees HY loss as fiscal stimulus money dries up in United States
