The Wise logo displayed on a smartphone screen.
- British digital payments firm Wise said that its first-half profit totalled £217.3 million in the first-half period, up 55% from £140.6 million in the same period a year ago.
- Revenues at the money transfer platform climbed 19% year-over-year for the period, to £591.9 million, Wise reported Wednesday.
Wise posted a 55% jump in profit in the first half of its 2025 fiscal year Wednesday, citing customer growth and expanding market share.
The British digital payments firm said that its first-half profit totalled £217.3 million, up from £140.6 million in the same period a year ago.
That came on the back of a 25% increase in active customers, with Wise reporting a total of 11.4 million consumer and business clients.
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Revenues at the money transfer platform climbed 19% year-on-year for the period to £591.9 million, Wise reported Wednesday.
Shares of Wise surged as much as 8% shortly after the London market opened Wednesday, adding to gains from Tuesday on a partnership with Standard Chartered to power the bank's cross-border payments offering for retail customers.
The stock was last up almost 5.5% as of 10 a.m. London time.
Money Report
"I continue to be bullish on Wise at these levels," Gautam Pillai, head of fintech research at investment bank Peel Hunt, told CNBC by email.
"While management lowered consensus expectations during full year results in June citing increased investments, I believe they have over provisioned the cost base as they have done in the past."
Pillai added that Wise's increased direct connections to global payment systems and lower foreign exchange costs have helped it lower its cost of goods sold and, ultimately, to increase its margins.
Earlier this year, Wise issued a sales warning that sent shares of the U.K. online payments firm down as much as 21%.
Back in June, Wise said it was expecting underlying year-over-year income growth of 15-20% for its fiscal 2025, much lower than the 31% growth clip it achieved in the 12 months ending in March 2024.
The softer guidance came off the back of a series of price reductions.
Last month, Wise reported a 17% increase in underlying income for the second quarter of 2024.
The firm also said it was on track to achieve an underlying profit before tax (PBT) margin of 13% to 16% in the medium term — reiterating previous guidance from June — and wouldn't have to make "further material investments in reduced pricing" in the second half.
On Wednesday, Wise said that its underlying PBT margin for the first-half period was 22%, above its target range of 13% to 16%.
However, the firm added that investments it's made in reducing pricing will take that margin down to a level close to that target range for the second half of its 2025 fiscal year.
Last week, Wise's billionaire CEO and co-founder Kristo Käärmann was fined £350,000 fine by the U.K.'s Financial Conduct Authority for failing to report an issue with his tax filings.
