Shares of Australian “buy-now, pay-later” firm Zip jumped 8.8% on Tuesday after announcing a share buyback of up to A$50 million (US$30.1 million), set to begin around April 23.
The stock hit A$1.295, making it one of the top gainers on the S&P/ASX 200, which rose 1.7%. This comes after a 7.4% drop the day before, driven by broader tariff-related market fears.
Zip said the number of shares repurchased will depend on market conditions. The company had previously reported that its first-half cash earnings more than doubled, fueled by higher transaction volumes, rising revenue, and improved debt arrears performance.