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Afterpay shares fall after FY net loss

  • ASX200 closed 0.39% higher on Wednesday at 7531.90.
  • Afterpay shares fell after net loss higher than expected.
  • WiseTech Global jumped 58% on FY21 results with net profit doubling.

The Australian market closed 0.39% higher on Wednesday at 7531.90 as tech stocks rallied on strong FY results released and mining stocks surged on the rising price of iron ore.

The tech sector led gains on the ASX today, boosted by WiseTech skyrocketing more than 25%, while Appen gained more than 8.7% and EML Payments finished the day 6.3% higher.

Bitcoin is trading 2.84% lower over the last 24-hours at US$48,414.92 at 5pm AEST.

Afterpay shares took a 1% hit today after the leading buy now, pay later provider released FY21 results. For the period, the soon to be acquired BNPL player reported a 78% increase in total income to $924.7m, active customer growth of 63% to 16.2m, but the companies loss blew out by 210%.

Making headlines, WiseTech Global shares skyrocketed as much as 58% today to a new record high share price after the logistics software solutions company released FY21 results. For the year WiseTech Global reported net profit doubled to $105.8m on revenue of $507.5m, up 18% YoY.

And Alaska Airlines evacuated a plane that had just landed in Seattle after a Samsung Galaxy A21 burst into flames.

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