{"id":50017,"date":"2023-08-18T08:04:52","date_gmt":"2023-08-18T12:04:52","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/adyen-stock-tumbles-28-on-weak-first-half-results\/"},"modified":"2023-08-18T08:04:54","modified_gmt":"2023-08-18T12:04:54","slug":"adyen-stock-tumbles-28-on-weak-first-half-results","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=50017","title":{"rendered":"Adyen stock tumbles 28% on weak first-half results"},"content":{"rendered":"
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\u00a9 Reuters. Adyen stock tumbles 28% on weak first-half results<\/span>
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Adyen <\/span><\/span> (AS:) shares fell as much as 28% in today\u2019s European session after the Dutch fintech company reported weaker-than-expected first-half .<\/p>\n

Adyen’s profit remained nearly unchanged at \u20ac282.2 million ($307M), while net revenue saw a 21% increase to \u20ac739.1M. However, these figures fell below the consensus estimate of \u20ac777M.<\/p>\n

H1 EBITDA dropped by 10% to \u20ac320M, again easily behind the consensus of \u20ac379M.<\/p>\n

\u201cEnterprise businesses prioritized cost optimization, while competition for digital volumes in the region provided savings over functionality. These dynamics are not new, and online volumes are easiest to transition back and forth. Amid these developments, we consciously continued to price for the value we bring,\u201d the company said in a shareholder letter.<\/p>\n

\u201cBeyond the current industry dynamics in North America, another factor that impacted our growth was one we wrote about at the end of 2021 too: the fact that we would have liked to grow our team at a higher pace but were unable to hire enough top-quality talent. We now see the impact of a sales team size that did not match our ambitions, particularly in North America. Since then, we have ramped up our investments.\u201d<\/p>\n

Still, Adyen reiterated its longer-term revenue and margin forecast. It still sees its revenue growing between the mid-twenties and low-thirties.<\/p>\n

\u201cWe expect a negative share price reaction to the print given the broad-based miss,\u201d Goldman Sachs analysts said in a client note.<\/p>\n

Adyen stock is on Goldman\u2019s Conviction List. The analysts rate the stock with a Buy rating and a \u20ac1,950 per share price target.<\/p>\n

Adyen stock was exchanging hands at around \u20ac1,050 apiece on Thursday. It closed at \u20ac1,472.40 on Wednesday.<\/p>\n

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

\u00a9 Reuters. Adyen stock tumbles 28% on weak first-half results Adyen (AS:) shares fell as much as 28% in today\u2019s European session after the Dutch fintech company reported weaker-than-expected first-half . Adyen’s profit remained nearly unchanged at \u20ac282.2 million ($307M), while net revenue saw a 21% increase to \u20ac739.1M. However, these figures fell below the […]<\/p>\n","protected":false},"author":1,"featured_media":2609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-50017","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nAdyen stock tumbles 28% on weak first-half results | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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