Adyen shares slump as payments processor meets revenue estimates

Dow Jones04-25

MW Adyen shares slump as payments processor meets revenue estimates

By Steve Goldstein

Shares of Adyen slumped Thursday as the payments processor met revenue expectations even after processing more volume than anticipated.

Adyen (NL:ADYEN) reported first-quarter revenue grew 21% to EUR438 million ($469 million), as proceeded volume rose EUR46% to 297.8 billion.

The Bloomberg-compiled consensus was for volumes of EUR278 billion and revenue growth of 21%.

Adyen shares dropped 15%, though the stock has doubled from its October lows.

Adyen said it benefited from processed volume growth with an existing digital customer that expanded in the second half of last year, a reference to Block's (SQ) Cash App.

The Cash App volumes were less profitable, as the net take rate fell to 14.7 basis points, down from 15.7 basis points in the fourth quarter and 17.7 basis points in the first quarter of 2023, according to analysts at the brokerage Stifel.

Adyen reiterated its hiring plans for "couple of hundred" after only adding a net 26 people in the first quarter, mostly in North America.

Adyen reiterated its goals of revenue growth in the low-to-high twenties and to improve margins above 50% in 2026, and capital expenditure at up to 5% of revenue.

-Steve Goldstein

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

April 25, 2024 04:46 ET (08:46 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2430147871?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-04-25 16:46","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2430147871","market":"hk","top_or_hot":-1,"title":"Adyen shares slump as payments processor meets revenue estimates","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW Adyen shares slump as payments processor meets revenue estimates\n</p>\n<p>\n  By Steve Goldstein \n</p>\n<p>\n     Shares of Adyen slumped Thursday as the payments processor met revenue expectations even after processing more volume than anticipated. \n</p>\n<p>\n     Adyen  (NL:ADYEN) reported first-quarter revenue grew 21% to EUR438 million ($469 million), as proceeded volume rose EUR46% to 297.8 billion. \n</p>\n<p>\n     The Bloomberg-compiled consensus was for volumes of EUR278 billion and revenue growth of 21%. \n</p>\n<p>\n     Adyen shares dropped 15%, though the stock has doubled from its October lows. \n</p>\n<p>\n     Adyen said it benefited from processed volume growth with an existing digital customer that expanded in the second half of last year, a reference to <a href=\"https://laohu8.com/S/SQ\">Block</a>'s (SQ) Cash App. \n</p>\n<p>\n     The Cash App volumes were less profitable, as the net take rate fell to 14.7 basis points, down from 15.7 basis points in the fourth quarter and 17.7 basis points in the first quarter of 2023, according to analysts at the brokerage Stifel. \n</p>\n<p>\n     Adyen reiterated its hiring plans for \"couple of hundred\" after only adding a net 26 people in the first quarter, mostly in North America. \n</p>\n<p>\n     Adyen reiterated its goals of revenue growth in the low-to-high twenties and to improve margins above 50% in 2026, and capital expenditure at up to 5% of revenue. \n</p>\n<p>\n     -Steve Goldstein \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 25, 2024 04:46 ET (08:46 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Adyen shares slump as payments processor meets revenue estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAdyen shares slump as payments processor meets revenue estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-25 16:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>MW Adyen shares slump as payments processor meets revenue estimates\n\n\n  By Steve Goldstein \n\n\n     Shares of Adyen slumped Thursday as the payments processor met revenue expectations even after ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B19Z3581.USD","symbol_name":"Legg Mason ClearBridge - Value A Acc USD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2430147871","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430147871","pubTimestamp":1714034760,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Adyen slumped Thursday as the payments processor met revenue expectations even after processing more volume than anticipated.Adyen   reported first-quarter revenue grew 21% to EUR438 million , as proceeded volume rose EUR46% to 297.8 billion.The Bloomberg-compiled consensus was for volumes of EUR278 billion and revenue growth of 21%.Adyen shares dropped 15%, though the stock has doubled from its October lows.Adyen said it benefited from processed volume growth with an existing digital customer that expanded in the second half of last year, a reference to Block's  Cash App.The Cash App volumes were less profitable, as the net take rate fell to 14.7 basis points, down from 15.7 basis points in the fourth quarter and 17.7 basis points in the first quarter of 2023, according to analysts at the brokerage Stifel.Adyen reiterated its hiring plans for \"couple of hundred\" after only adding a net 26 people in the first quarter, mostly in North America.Adyen reiterated its goals of reve","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","BK4503":"景林资产持仓","BK4106":"数据处理与外包服务","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4551":"寇图资本持仓","BK4585":"ETF&股票定投概念","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4581":"高盛持仓","BK4588":"碎股","SQ":"Block","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4528":"SaaS概念","BK4554":"元宇宙及AR概念","BK4227":"交易和支付处理服务"},"translate_title":"Adyen股价暴跌，支付处理器达到收入预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SQ":1},"content_text":"MW Adyen shares slump as payments processor meets revenue estimates\n\n\n  By Steve Goldstein \n\n\n     Shares of Adyen slumped Thursday as the payments processor met revenue expectations even after processing more volume than anticipated. \n\n\n     Adyen  (NL:ADYEN) reported first-quarter revenue grew 21% to EUR438 million ($469 million), as proceeded volume rose EUR46% to 297.8 billion. \n\n\n     The Bloomberg-compiled consensus was for volumes of EUR278 billion and revenue growth of 21%. \n\n\n     Adyen shares dropped 15%, though the stock has doubled from its October lows. \n\n\n     Adyen said it benefited from processed volume growth with an existing digital customer that expanded in the second half of last year, a reference to Block's (SQ) Cash App. \n\n\n     The Cash App volumes were less profitable, as the net take rate fell to 14.7 basis points, down from 15.7 basis points in the fourth quarter and 17.7 basis points in the first quarter of 2023, according to analysts at the brokerage Stifel. \n\n\n     Adyen reiterated its hiring plans for \"couple of hundred\" after only adding a net 26 people in the first quarter, mostly in North America. \n\n\n     Adyen reiterated its goals of revenue growth in the low-to-high twenties and to improve margins above 50% in 2026, and capital expenditure at up to 5% of revenue. \n\n\n     -Steve Goldstein \n\n\n     This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 25, 2024 04:46 ET (08:46 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430147871"}