Shares of Wise Fall After Lowering Revenue Growth Forecast
Shares of the British money transfer company Wise fell on Thursday after the company announced a lower annual revenue growth forecast for the current financial year.
The company’s shares dropped by 9.8% at 13:30 London time after earlier in the session they had lost almost 21%.
Wise, which allows customers to send or spend money abroad at lower rates, stated that it expects an annual revenue growth in the range of 15-20% for the financial year ending in March 2025.
This forecast is lower than the annual revenue growth of 31% to £1.2 billion ($1.53 billion) announced by Wise on Thursday during the release of its financial results for the financial year ending on March 31.
