Adyen reported a big miss on first-half sales Thursday.
Adyen reported a jump in sales in the third quarter as the Dutch payments firm gained wallet share and added new customers, diversifying its merchant mix.
The company, whose technology allows businesses to accept payments online and in-store, reported third-quarter net revenue of 498.3 million euros ($535.5 million), up 21% year-on-year on a constant currency basis.
Payments firms saw a boost from an increase in online shopping during the height of the Covid-19 pandemic.
But in recent years, companies such as Adyen have faced pressure from lower consumer spending.
Persons:
Adyen
Organizations:
North
Locations:
U.S, Canada, Europe, East, Africa, North America