Wise PLC Class A

WISE: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GBX 111.00	Xty	Njzqckv

Wise: First-Quarter Trading Update Within Expectations

Niklas Kammer

Jul 16, 2024

Wise reported a first-quarter trading update with 26% customer growth and 18% volume growth. Performance is within our expectations, and we won't change our fair value estimate of GBX 560 per share and no economic moat rating. The cross-border take rate declined to 64 basis points from 67 basis points last year as Wise passed on efficiency benefits to its users. Card and other revenue grew 55% to GBP 80 million versus the same period last year, yielding results for Wise's drive to round out its currency conversion offering.

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