{"id":49576,"date":"2023-08-17T09:25:27","date_gmt":"2023-08-17T13:25:27","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/adyen-shares-slump-as-payments-company-and-its-clients-deal-with-rising-costs\/"},"modified":"2023-08-17T09:25:29","modified_gmt":"2023-08-17T13:25:29","slug":"adyen-shares-slump-as-payments-company-and-its-clients-deal-with-rising-costs","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=49576","title":{"rendered":"Adyen shares slump as payments company, and its clients, deal with rising costs"},"content":{"rendered":"
\n

Adyen shares fell as much as 22% on Thursday as the fast-growing Dutch payment company\u2019s first-half results lagged estimates.<\/p>\n

Adyen\u2019s
\n ADYEN,
\n -28.95%<\/bg-quote>
\n first-half profit was virtually flat at \u20ac282.2 million ($307 million), while net revenue rose 21% to \u20ac739.1 million, missing the consensus of \u20ac777 million.<\/p>\n

\n

Its earnings before interest, tax, depreciation and amortization fell 10% to \u20ac320 million, lagging the consensus of \u20ac379 million.<\/p>\n

Adyen has previously lamented not being able to grow its team in North America, which it said is impacting now. \u201cWe now see the impact of a sales team size that did not match our ambitions, particularly in North America,\u201d the company said in its shareholder letter. In the first half, it added 551 full-time employees, three-quarters in tech roles. The company blamed the adjusted profit decline on increased wages and salaries.<\/p>\n

Inflation was a problem for its customers, too. \u201cAs a natural consequence of the shifting economic climate \u2013 driven by higher inflation and interest rates \u2013 profit outweighed growth for many North American digital businesses in the first half. Enterprise businesses prioritized cost optimization, while competition for digital volumes in the region provided savings over functionality,\u201d the company said.<\/p>\n

The company reiterated its longer-term revenue and margin goals, including for revenue growth between the mid-twenties and low-thirties. \u201cWe know that growth is not always linear, and reiterate our financial objectives,\u201d the company said.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Adyen shares fell as much as 22% on Thursday as the fast-growing Dutch payment company\u2019s first-half results lagged estimates. Adyen\u2019s ADYEN, -28.95% first-half profit was virtually flat at \u20ac282.2 million ($307 million), while net revenue rose 21% to \u20ac739.1 million, missing the consensus of \u20ac777 million. Its earnings before interest, tax, depreciation and amortization fell […]<\/p>\n","protected":false},"author":1,"featured_media":49577,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-49576","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nAdyen shares slump as payments company, and its clients, deal with rising costs | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Adyen shares fell as much as 22% on Thursday as the fast-growing Dutch payment company\u2019s first-half results lagged estimates. Adyen\u2019s ADYEN, -28.95%\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=49576\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adyen shares slump as payments company, and its clients, deal with rising costs | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Adyen shares fell as much as 22% on Thursday as the fast-growing Dutch payment company\u2019s first-half results lagged estimates. 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