Adyen Shares Fall After 2nd Half Earnings Missed Market Views
February 08 2023 - 4:05AM
Dow Jones News
By Joe Hoppe
Adyen NV shares fell Wednesday after its second-half earnings
rose but missed market expectations by 16%, together with a miss
for net revenue.
Shares at 0818 GMT were down 15% at EUR1,304.8.
The Dutch payments company said for the six months ended Dec.
31, earnings before interest, taxes, depreciation and amortization
for the period rose to 372.0 million euros ($399.1 million)
compared with EUR357.3 million for the second half of the
comparable period, with a margin of 52%. However, this was a
material miss of market consensus of Ebitda at EUR444 million and a
margin of 61%, according to Citi analysts.
The company made a net profit for the period of EUR282.0 million
compared with EUR264.9 million for the same period a year
earlier.
The result was affected by higher costs incurred from financial
institutions, and increased administrative and other expenses,
Adyen said.
Net revenue for the period rose 30% to EUR721.7 million from
EUR556.5 million, though this missed market views of EUR735
million, according to Citi. Adyen said it processed payments worth
EUR421.7 billion in the half year, up 41%.
Total revenue for the period rose to EUR4.99 billion from
EUR3.44 billion a year earlier, and against a consensus of EUR4.85
billion, taken from FactSet and based on seven analysts'
forecasts.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
February 08, 2023 03:50 ET (08:50 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Adyen NV (EU:ADYEN)
Historical Stock Chart
From Oct 2024 to Nov 2024
Adyen NV (EU:ADYEN)
Historical Stock Chart
From Nov 2023 to Nov 2024