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☆ Stripe rival Adyen's shares soar 22% as European payments giant posts profit beat, slows hiring
▼ + stars: | 2024-02-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Shares of European online payments giant Adyen jumped on Thursday, after the company reported strong sales growth and better-than-expected profit for 2023. Here's how the company did in its full-year results:Net revenue: 1.626 billion euros ($1.75 billion), up 22% year-on-year. That's broadly in line with expectations of 1.636 billion euros, according to LSEG, formerly RefinitivEBITDA (earnings before interest, tax, depreciation, and amortization): 743.0 million euros, up 2% year-on-year. The company also said it "significantly expanded" its partnership with a single, unnamed existing digital customer, which contributed to better sales growth overall. The move intended to address investor concerns that the company was spending too aggressively on hiring while peers were cutting back on their capital expenditure.

Persons: Adyen, Jefferies Organizations: PayPal, Analysts, Spotify Locations: Amsterdam, Klarna

☆ Here are some of the 'ludicrously capacious' props from 'Succession' that just sold at auction
▼ + stars: | 2024-01-14 | by ( Hannah Getahun | Associated Press | ) www.businessinsider.com time to read: +3 min

Hundreds of props used in the show "Succession" have been auctioned off. AdvertisementSomeday soon, someone will be walking down the street proudly carrying a ludicrously capacious bag, bought for a ludicrously capacious price. The voluminous Burberry tote is one of the most famous props used on "Succession," the famed HBO saga of the Roy family dynasty, and it sold at auction Saturday for $18,750. It often parodied the lives of the uber-wealthy, with Logan Roy being a nod to the former Chairman of Fox News, Rupert Murdoch. After all, there's no award for "best props" at awards shows like there is for costumes, notes "Succession" prop master Monica Jacobs, who joined the show after the pilot episode.

Persons: Tom Wambsgans, —, Roy, Logan Roy, Waystar, Rupert Murdoch, Matthew Macfadyen's Tom Wambsgans, Roman, Kieran Culkin, Robert Wilonsky, there's, Monica Jacobs, Jacobs Organizations: Burberry, Service, Burberry tote, HBO, Fox News, Golden Globes, Heritage Auctions Locations: Dallas

☆ Plaid taps Adyen executive to lead its European operations
▼ + stars: | 2023-11-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

U.S. financial technology firm Plaid has hired former Adyen executive Brian Dammeir as its new head of Europe, the company told CNBC exclusively. Plaid, which was last valued by investors at $13.4 billion in a funding round, offers technology that enables financial technology apps to retrieve data from people's bank accounts and initiate payments on their behalf. Dammeir told CNBC. Bandourian, a former Booking.com executive, was appointed the company's first head of Europe last year. Payments has been a big focus for Plaid beyond financial data, with payment volumes on the platform having climbed more than 90% in 2023.

Persons: Plaid, Brian Dammeir, Dammeir, Ripsy Bandourian, Keith Grose, Dammeir didn't Organizations: CNBC, San, Plaid Locations: Europe, San Francisco, fintech, Adyen, North America

☆ Adyen lowers mid-term sales target, aims to slow hiring
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

The Adyen logo is seen at the reception desk of the company's headquarters in Amsterdam, Netherlands August 24, 2018. "Overall targets are lowered from previous targets and while likely more realistic, they still look ambitious," Jefferies analysts said in a note. Adyen added it would aim to improve its core profit (EBITDA) margin to above 50% in 2026. This year so far, Adyen has lost about half its market value which currently stands at 21.58 billion euros. It said it would slow down hiring, and that it hired 175 full-time employees over the quarter, which was "substantially below" Jefferies' expectations.

Persons: Eva Plevier, Adyen, France's, Jefferies, Olivier Sorgho, Piotr Lipinski, Elaine Hardcastle, Josie Kao Organizations: REUTERS, Netflix, Spotify, Jefferies, New, Thomson Locations: Amsterdam, Netherlands, New York, U.S

Worldline's (WLN.PA) stock slide, which saw around $4 billion wiped off its market value, is the latest wake-up call. COMMISSIONS CUTRevenue growth has suffered at payments firms as inflation has force European consumers to spend less, while investors fret about the euro zone slipping into recession. Some analysts say payments firms have also been caught napping, after a period of growth during COVID lockdowns. In a further sign of investor wariness, venture capital investment flows into European payment firms have also dried up. Now, it may leave private equity investors to pick up the pieces for payment service firms, analysts said.

Persons: Dado Ruvic, Paul Charpentier, Bryan Garnier, napping, Jefferies, Hannes Leitner, Leitner, Charpentier, wariness, Italy's Intesa Sanpaolo, Morgan Stanley, Worldline, Bryan Garnier's Charpentier, Elizabeth Howcroft, Alexander Smith Organizations: REUTERS, PayPal, Holdings, Companies, Barclays, Reuters, Spain's Banco Sabadell, Fidelity National Information Services, CVC Capital Partners, CVC, Thomson Locations: London, U.S, Nexi, Europe

☆ 3 retailers weigh in on how a financial technology platform helped solve their enterprises' most pressing challenges
▼ + stars: | 2023-09-27 | by ( Sponsor Post | Created Insider Studios With Adyen | ) www.businessinsider.com time to read: +5 min

From arts and entertainment to health and wellness, businesses across industries are tapping into financial technology to drive growth. Below are three tips to help enterprises stay informed on the latest financial technology trends, while delivering value to their customers and employees. Choosing a single payment platform is a good starting point for increasing agility, but the type of platform you choose matters. Taking the next stepFor businesses looking to scale amid a changing economic landscape, a single financial technology platform isn't just a choice; it's a necessity. Learn more about how Adyen's single payment platform can help your enterprise meet the evolving needs of customers and businesses.

Persons: —, Pepe Jeans, Vázquez Cabezas Organizations: Enterprise, Terme, Federal Reserve Bank of San, Connect, Marketing, Insider Studios Locations: Federal Reserve Bank of San Francisco, Adyen

☆ Stripe rival Adyen secures banking license in the UK
▼ + stars: | 2023-09-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Dutch payments giant Adyen on Thursday said it won approval for a banking license in the U.K., marking a deeper push from the company into the banking sector. Adyen already has a license in the Netherlands as an acquiring bank. Adyen's U.K. merchants can already offer customers bank accounts, virtual or physical cards, and cash flow and expense management. "The U.K. is a key market for Adyen and we're excited to cement our position here with this banking authorisation," said Mariëtte Swart, Adyen's chief legal and compliance officer. A competitor to U.S. payments giant Stripe, Adyen is one of Europe's largest technology firms, with a market capitalization of 23.4 billion euros ($25 billion).

Persons: Adyen, Mariëtte Swart, Revolut Organizations: Bank of England, Regulators Locations: Netherlands, Amsterdam

☆ Europe's Stripe rival Adyen saw $20 billion wiped off its value in a single day. Here's what's going on
▼ + stars: | 2023-08-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

Pavlo Gonchar | Sopa Images | Lightrocket | Getty ImagesSpirits were high when Dutch payments firm Adyen floated on the Amsterdam Stock Exchange in 2018. The company was riding a wave of growth in Europe's technology sector and snapping up competition from its mega U.S. rival PayPal. Since then, the company has weathered a turbulent ride, including a global pandemic that knocked volumes from travel clients significantly. Company shares plummeted 39% on Thursday, erasing 18 billion euros ($39 billion) from Adyen's market capitalization, as investors dumped the stock after the firm reported its slowest revenue growth on record. Adyen has typically been viewed as a growth stock, after consistently reporting revenue growth of 26% each half-year period since its 2018 stock market debut.

Persons: Pavlo Gonchar, Adyen, Pieter van der, Arnout Schuijff, Ethan Tandowsky, CNBC's, Tandowsky, EBITDA, Simon Taylor, Taylor Organizations: Amsterdam Stock Exchange, PayPal, Company, CNBC, Netflix, Meta, Spotify, Enterprise, Financial Locations: North America

At current prices shares are now down about 16% in the year to date, surrendering gains up to Wednesday's close. Earnings before interest, tax, depreciation and amortisation (EBITDA) were 320 million euros ($348 million), down 10% from a year earlier and below analyst forecasts of 386 million euros, Refinitiv data showed. Revenue rose 21% to 739 million euros, against Adyen's mid-term forecasts of more than 25% growth. He said the economy overall is slowing and online payments growth may not be quite as fast as it was in the pre-COVID era. A similar margin decline led to a sell-off in Adyen shares when the company reported full-year earnings in February.

Persons: Eva Plevier, Hannes Leitner, Adyen, Toby Sterling, Sinead Cruise, David Goodman, Barbara Lewis, Jane Merriman Organizations: REUTERS, Company, Netflix, Microsoft, Spotify, JPMorgan, Revenue, Adyen's, PayPal, Jefferies, Thomson Locations: Amsterdam, Netherlands, AMSTERDAM, North America, Stripe, Braintree, Fiserv

The Adyen share plunge "was because expectations were much higher. Analysts believed that Adyen would take significantly more share in this difficult market environment," said Jefferies equity analyst Hannes Leitner. Was the share price reaction justified? One European equities trader, who asked not to be named, noted there were orders to sell Adyen shares at any price and referred to "apocalypse selling." According to data from Refinitiv, 17 analysts rated Adyen "buy", 12 "hold", and 4 "sell" before the earnings announcement.

Persons: Eva Plevier, Jefferies, Hannes Leitner, Refinitiv, Adyen, Worldline, Italy's, Marco Simion, Pieter van der, ”, Samuel Indyk, Elizabeth Howcroft, Danilo Masoni, Toby Sterling, Dhara, Alun John, Cynthia Osterman Organizations: REUTERS, Analysts, Citigroup, UBS, KPMG, Privately, Thomson Locations: Amsterdam, Netherlands, MILAN, North America, Swiss, Adyen, EMEA, Refinitiv, London, Milan

☆ Payments company Adyen's shares drop more than 20% after earnings miss
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

Earnings before interest, tax, depreciation and amortisation (EBITDA) were 320 million euros ($348 million), down 10% from a year earlier and below analyst forecasts of 386 million euros, Refinitiv data shows. Revenue rose 21% to 739 million euros, against Adyen's mid-term forecasts of more than 25% growth. Adyen's EBITDA margin fell to 43% from 59%, which the company said was mostly because of higher wage costs as it takes on more staff. A similar margin decline led to a sell-off in Adyen shares when the company reported full-year earnings in February. Adyen maintained its medium-term targets for revenue growth above 25% and an improving EBITDA margin that it expects to reach 65% in the long term.

Persons: Eva Plevier, Adyen, Toby Sterling, David Goodman, Barbara Lewis, Jane Merriman Organizations: REUTERS, Rights, Netflix, Microsoft, Spotify, JPMorgan, Revenue, Adyen's, North, PayPal, Thomson Locations: Amsterdam, Netherlands, North America, United States

☆ Europe's Stripe rival Adyen dives 28% after slowest sales growth on record
▼ + stars: | 2023-08-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Here's how the company performed:Revenue of 739.1 million euros ($804.3 million) over January to June 2023, up 21% from a year ago. This came in below analyst estimates of 853.6 million euros of revenue and 40% of year-on-year growth, according to Eikon data. EBITDA (earnings before interest, tax, depreciation and amortization) of 320 million euros, down 10% from 356.3 million euros in the first half of 2022. The first-half 2023 result matches an analyst prediction of 320 million euros profit. Adyen — and other payment companies — benefited heavily in previous years from the rise in demand for e-commerce and digital payment options resulting from the Covid-19 pandemic and ensuing lockdowns.

Persons: Ethan Tandowsky, CNBC's, Adyen — Organizations: Netflix, Meta, Microsoft, Spotify, PayPal, Investors, CNBC, Apple Locations: Europe, Russia, Ukraine

☆ Data is the fuel behind every retail engine. Here's how you can leverage it to retain customers and drive sales.
▼ + stars: | 2023-06-29 | by ( Sponsor Post | Created Insider Studios With Adyen | ) www.businessinsider.com time to read: +7 min

By Brian Dammeir, global head of unified commerce at AdyenWhat do customers want? And more than 40% of retailers have seen a decrease in customer loyalty due to rising inflation. Below are three ways omnichannel businesses can leverage financial technology platforms embedded with smart data analytics to power their personalization strategy. To eliminate these complexities, retailers can consolidate customer payments and data insights under a single unified technology platform. Click here to access the full report and find out how Adyen's unified technology solutions can help your business achieve financial success.

Persons: Brian Dammeir, it's, that's Organizations: Global, Insider Studios Locations: Adyen

☆ UK streamer BritBox just inked a big Comcast deal and is poised to grab more US viewers with shows that go way beyond Agatha Christie
▼ + stars: | 2023-06-15 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

British streamer BritBox just scored a deal with Comcast as it eyes US expansion. BritBox is like other enthusiast streamers that have sustained growth while big SVODs' growth has slowed. BritBox International, the British-specialty streaming service backed by BBC Studios and ITV Studios, has big ambitions for growth. The Xfinity opportunity is "a real step change in terms of distribution and access," said Reemah Sakaan, CEO of BritBox International. But BritBox sees itself in a good position to complement the big streamers — as British content moves into the mainstream and interest in high-quality, international content grows.

Persons: it's, Comcast's, BritBox, Reemah Sakaan, Agatha Christie's Poirot, Matthew Macfadyen, John Stonehouse, Frannie Langton, Jed Mercurio's, Mercurio's, Cary Grant, Archie, Jason Isaacs, Harry Potter, Matthew Macfadyen's, Brian Cox, Logan Roy, Robert Schildhouse, King Charles, Sakaan, We've Organizations: Comcast, BritBox, BBC Studios, ITV Studios, AMC, BET, Netflix, Hulu, US, Amazon's, Disney, Labor, Warner Bros, Hollywood, Writers ' Guild of Great Locations: British, Canada, Australia, Scandinavia, " Stonehouse, BritBox, American, Stonehouse, North America, Writers ' Guild of Great Britain

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