Adyen Stock Gained over 20% After Reporting Better than Expected 2023 Financial Results
Adyen reported net revenue of €1.62 billion for 2023, up 22 percent YoY, fueled by continued growth in the customer base amid an expanding team of employees.
New possibilities in bitcoin acceptance have arisen with the announcement of a partnership between Bitpay and giant payment processor Adyen.
Adyen reported net revenue of €1.62 billion for 2023, up 22 percent YoY, fueled by continued growth in the customer base amid an expanding team of employees.
Adyen published its slowest growth for a half-year since 2018 and lost $20 billion of its market valuation as shares also fell 39%.
The European payments giant attributed its poor performance to various factors.
The announcement from the European fintech giant comes as a surprise to many as Adyen once allowed its clients to accept bitcoin as a payment option but has now revealed they longer support the cryptocurrency.
U.S. and China have had a good year for stock market debuts where share listings came from big tech names like Palantir and Ant Group. However, this is not the case for Europe.
MacDonald’s will use the Adyen platform to receive and process payments made in its mobile app. The UK will be the first country with this initiative implemented.
Banco Santander is to pay £350 million for a 50.1% majority stake in Ebury, a provider of corporate banking services to SMEs that trade internationally.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) in the half year ended June 30 was 125.8 million euros ($139.39 million), from 70.3 million euros in the same period of 2018. The company grew strongly in all key metrics, with net revenue up 41% to 222.1 million euros and net profit up 92%.
Former chief executive of Worldpay gets approval from UK regulators to launch a new bank that will provide financial services for fintech businesses worldwide.
The Netherlands-based company Adyen has enabled merchants in the United States to use its point of sale payment solution.