Zip Co shares dive nearly 40 percent after missing first half earnings estimates
Zip Co reported earnings below analyst estimates on Thursday. The company's shares then suffered their biggest intraday percentage loss in over nine years.
Insights:
Zip Co, which is listed as ZipRecruiter, Inc. , reported first-half cash operating earnings that fell short of analyst expectations, triggering a massive sell-off in the company’s shares. For the six months ended December 31, the firm recorded A$124.3 million in cash operating earnings, missing the Visible Alpha consensus of A$128.4 million. This result, combined with management's guidance for the remainder of the fiscal year, led to a significant decline in market valuation for the company, which maintains operations in Australia 
AU and the United States 
US.
AU and the United States US.
