It has been a very busy day for investors with a large number of companies releasing updates this morning.
Three updates in the tech sector that have caught my eye are listed below. Here's how these three tech shares are performing:
Aristocrat Leisure Limited (ASX: ALL)
The Aristocrat Leisure share price is pushing higher after providing an update on trading conditions. It revealed the full extent of how it is being impacted by the closure of casinos globally. However, management expects a gradual re-opening over the coming months and has been making cost-savings where it can to conserve cash. It will also suspend its interim dividend. Positively, the company's Digital business continues to perform strongly, with higher bookings and player engagement being seen across most of the portfolio.
Sezzle Inc (ASX: SZL)
The Sezzle share price is up 3% after providing its first quarter update. The buy now pay later company revealed that the coronavirus pandemic has not had a material impact on its performance. Underlying merchant sales increased 321% year on year in the first quarter and active customers had reached 1.15 million at the end of the period. In addition to this, since the end of the quarter, underlying trends have remained favourable. Management notes that this has been driven by the shift to online in North America during the crisis. The Afterpay Ltd (ASX: APT) rival also revealed that its credit quality remains stable, with steady to improving trends in leading loss indicators
Tyro Payments Ltd (ASX: TYR)
The Tyro Payments share price has jumped 5% after the payments company released another weekly update. For the week ending April 24, Tyro revealed a 39% decline in total transaction value through its network. This is a small improvement on what it has delivered over the two prior weeks, which supports the view that its transaction volumes have now bottomed.
