The S&P/ASX 200 Index (ASX: XJO) is having another positive session. In afternoon trade, the benchmark index is up 0.55% to 7,198.9 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are racing higher:
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EML Payments Ltd (ASX: EML)
The EML share price is up almost 30% to 96.5 cents. This follows the release of the payments company's FY 2023 results. EML reported a 9% increase in revenue to a record of $254.2 million. This was ahead of the company's guidance range of $235 million to $245 million. Also coming in ahead of guidance was its underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) at $37.1 million.
Sayona Mining Ltd (ASX: SYA)
The Sayona Mining share price is up over 15% to 10.5 cents. Investors appear to believe a selloff on Monday following the sudden exit of its CEO was an overreaction and a buying opportunity. Particularly given how its shares had lost two-thirds of their value over the last 12 months.
Tyro Payments Ltd (ASX: TYR)
The Tyro share price is up 12% to $1.26. This morning, this payments company released its FY 2023 results and revealed a 30% increase in gross profit to $193.2 million and a record EBITDA of $42.3 million. The latter was up almost 300% year on year.
Zip Co Ltd (ASX: ZIP)
The Zip share price is up 5% to 34.7 cents. This follows the release of the buy now pay later provider's full-year results. Zip posted a 16.1% increase in revenue to $693.2 million and a 20.4% lift in cash gross profit to $250.6 million. Management also advised that it expects to achieve cash EBTDA profit during the first half of FY 2024.
