Adyen: results fall short in a rare miss, shares dive

(CercleFinance.com) - Adyen's first-half results fell short of analysts' expectations on Thursday, a rare miss that triggered a brutal sell-off in its shares.


The Amsterdam-based firm - that handles online payments for Uber amongst others - said net revenue was up 37% to 608.5 million in the first six months of the year, as processed volume jumped by 60% to 345.8 billion euros, above consensus at 329.9 billion euros.

Adyen, which won new customers such as Dior and Uniqlo, said earnings before interest, taxes, depreciation and amortisation (Ebitda) grew 31% to 356.3 million euros, below consensus at 383.5 million euros.

The company said it has not seen any developments in its business over the first half of 2022 that would lead to updating our guidance, and therefore maintained its full-year outlook.

Adyen said it aims to continue to grow net revenue and achieve an average growth between the mid-twenties and low-thirties in the medium term.

It also seeks to increase its Ebitda margin to levels above 65% in the long term, compared to 59% in the first half.

The company's shares dived more than 11% in early morning trading.

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