Wise PLC: 1Q27 - Top line beat, driven by better net interest income

研报英文原文证据摘录

Wise PLC: 1Q27 - Top line beat, driven by better net interest income

Update

July 16, 2026 09:44 PM GMT

Morgan Stanley & Co. LLCMWise PLC | Europe Adam Wood

Equity Analyst

1Q27 - Top line beat, driven by Adam.Wood@morganstanley.comMorgan Stanley & Co. International plc+ +1 212 761-3656

Mark Hyatt

Equity Analystbetter net interest income Mark.Hyatt@morganstanley.com +44 20 7677-3663

Wise PLC (WISEa.L, WISE LN)

Reaction to earnings

Technology - Payments | United Kingdom

Unchanged Modest upside Largely unchanged

Impact to our thesis Financial results versus consensus Direction of next 12-month Stock Rating Equal-weight

consensus EPS Industry View In-Line

Price target 1,220p

Source: Company data, Morgan Stanley Research Shr price, close (Jul 16, 2026) 949p

Mkt cap, curr (mm) $26,378

52-Week Range 1,164-754p

Key Takeaways

1Q27 net revenue of $714m was 3% above company consensus and MS, with

growth of 25% y/y.

Cross-border volume grew 26% y/y but missed both company consensus and MS

by 2%, driven by personal volume.

Despite this, cross-border revenue was broadly in line, while card and other

revenue, and net interest income drove the group beat.

FY27 guidance was reiterated: cc net revenue growth near the midpoint of 15–

20% and margin near the top of 20–25%.

Overall, the headline beat is positive, but softer core volumes could take the

shine off slightly; we expect the stock to trade up low-single-digit.

Net revenue 3% above consensus despite a 2% volume miss as net interest

income beats – FY27 guidance reiterated: Wise reported 1Q27 net revenue of

$714m, up 25% and c. 3% above company consensus and MS – a solid start to the

year and above the company's FY27 guidance range (as previously flagged by

management). We note that the composition of the beat was more on the net