Earnings Results: Adyen stock falls after earnings; CFO says global expansion is playing out [MarketWatch]
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Source: MarketWatch
Adyen stock falls after earnings; CFO says global expansion is playing out European payment processor Adyen NV made progress in the first half of the year, adding merchants and improving its geographical balance, but its shares dropped after the company reported its latest results. Adyen ADYEN, -4.96% earned €3.02 a share for the half on €221 million in revenue. Those results came in ahead of the expectations of Keefe, Bruyette, & Woods’s Sanjay Sakhrani, the only analyst whose estimates are tracked by FactSet. He had predicted €2.73 in EPS and €211 in revenue. Adyen is a global payment company that allows businesses to accept e-commerce, mobile, and point-of-sale payments. Adyen has more than 3,500 customers and is listed on the stock exchange Euronext. Shares were off 5% in Thursday trading. Sakhrani said in a note to clients that the stock weakness could be attributed to “high expectations heading into the quarter and the fact that the outperformance on the Ebitda [earnings befo
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