Adyen 2nd Half Net Profit, Earnings Rose as Revenue Beat Market Views

By Joe Hoppe

Adyen NV on Wednesday reported a 6.5% rise in second-half net profit, along with increased earnings and that revenue rose ahead of market expectations.

The Dutch payments company made a net profit for the six months ended Dec. 31 of 282.0 million euros ($302.6 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.

Earnings before interest, taxes, depreciation and amortization for the period rose to EUR372.0 million compared with EUR357.3 million for the second half of the comparable period, with a margin of 52%.

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.

Net revenue for the period rose 30% to EUR721.7 million from EUR556.5 million. Adyen said it processed payments worth EUR421.7 billion in the half year, up 41%.

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(END) Dow Jones Newswires

February 08, 2023 02:01 ET (07:01 GMT)

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