Adyen 2nd Half Net Profit Rose 62%, Beats Market Forecasts

By Ian Walker

Adyen NV on Wednesday reported a 62% rise in second-half net profit, beating market expectations, and said its view of the prospects for the business are as strong as ever.

The Dutch payments company made a net profit for the six months ended Dec. 31 of 264.9 million euros ($302.4 million), compared with EUR163.1 million for the same period a year earlier and a forecast of EUR241.5 million, taken from FactSet and based on two analysts' forecasts.

Earnings before interest, taxes, depreciation and amortization for the period rose to EUR357.3 million compared with EUR236.8 million for the second half of the comparable period, with a margin that increased 64%.

Total revenue for the period rose to EUR3.44 billion from EUR2.08 billion a year earlier, and against a consensus of EUR3.08 billion, taken from FactSet and based on three analysts' forecasts.

Net revenue for the period rose 47% at EUR556.5 million. Adyen said it processed payments worth EUR300 billion in the half year, up 72%.

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(END) Dow Jones Newswires

February 09, 2022 02:04 ET (07:04 GMT)

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