Zip Shares Fall Most Since 2014 After Warning on Flat Earnings

Zip Co. shares notched their biggest drop in more than a decade after the Australian digital payments company guided toward flat cash earnings growth in the second half of the financial year.

The stock plunged 34%, the most since November 2014, after saying that a measure of earnings in the second half would be broadly in line with the six months ended Dec. 31. The firm reported cash earnings of A$124.3 million ($87.6 million) in the first half, according to an exchange statement.