Wise Shares Slump After First-Quarter Earnings Miss Estimates

Wise Plc shares fell by the most in seven months after the fintech company’s fiscal first-quarter earnings missed analyst estimates, driven by higher currency volatility.

The company reported underlying income of £362 million ($485 million) in the three months through June, which missed the £372 million average of analyst estimates compiled by Bloomberg. Still, the company maintained its full-year forecast for that figure to grow as much as 20%.