ASX 200 (ASX:XJO) midday update: Zip’s Q2 update, Santos and Woodside deliver record revenue

It’s another red day for the ASX 200…

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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is out of form again and trading lower. The benchmark index is currently down 0.2% to 7,319.8 points.

Here’s what is happening on the ASX 200 today:

Zip delivers strong second quarter growth

The Zip Co Ltd (ASX: Z1P) share price is trading lower today despite smashing records in the second quarter. The buy now pay later provider reported a 53% increase in transaction volume to a record of $2.6 billion and a 58% lift in quarterly revenue to a record of $167.4 million. A key driver of this growth was a 57% increase in customer numbers to 9.9 million.

Netwealth Q2 update

The Netwealth Group Ltd (ASX: NWL) share price is pushing higher today after reporting a $4.7 billion or 9% quarterly increase in funds under administration (FUA) during the second quarter. The $4.7 billion increase comprises quarterly net inflows of $3.6 billion and $1.1 billion in positive market movements. This took Netwealth’s FUA to $56.6 billion at the end of December, which is up 46% year on year.

Santos and Woodside deliver record revenue

Energy producers Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) had strong fourth quarters. This morning both companies reported record quarterly revenue thanks largely to rising commodity prices. You can read about Santos’ performance here and Woodside’s here. However, it appears as though the market was expecting even better. Both shares are trading largely flat at lunch.

Best and worst ASX 200 performers

The best performer on the ASX 200 today has been the Evolution Mining Ltd (ASX: EVN) share price with a 9% gain. Investors have been buying gold miners today, driving the S&P/ASX All Ordinaries Gold index 6% higher. The worst performer has been the Premier Investments Limited (ASX: PMV) share price with a 4% decline on no news.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Netwealth and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Netwealth. The Motley Fool Australia has recommended Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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