Wise Faces Investor Backlash Despite Strong Profit Growth

UK fintech's shares plummet as lower income forecast fails to meet expectations despite tripling profits.

Wise's shares fell by up to 23% following a weaker-than-expected income growth forecast for the upcoming fiscal year.
The company reported a 229% increase in pre-tax profits to £481.4 million and a 24% rise in revenue to £1.05 billion.
Despite a 29% growth in its customer base, Wise projected a 15-20% income growth, significantly lower than the previous year's 31%.
The firm plans to invest heavily in payment infrastructure to reduce fees and improve efficiency, impacting short-term profit margins.
Analysts expressed concerns over the forecast, but some believe the price cuts will support medium-term growth.