Zip Co (ASX:ZIP) has announced its second quarter results for the three month period ending December 31, 2022, highlighting a record group quarterly revenue of $188M, up 12% year-over-year.
Zip Co also highlighted a record transaction volume for the quarter of $2.7B, up 22% quarter-on-quarter, as well as record transaction numbers for the quarter of 22.6M, up 15% quarter-on-quarter.
It says the cash transaction margin lifted to 2.6% for the quarter which is a great result in a rising interest rate environment, and was in line with medium term targets, up from 2.2% in Q1 FY23.
Zip Co says the revenue margin remained solid at 6.9%, reflecting seasonality versus 6.4% in Q2 FY22.