Shares of Adyen (ADYEN.NL) are gaining nearly 21% in today's session after the company reported better-than-expected processed volumes and net income in the second half of the year, offering relief after surprisingly weak first-half results. Ebitda margin exceeded analysts' estimates, as the company boosted profitability by slowing hiring.
SECOND-HALF RESULTS
- Net revenues €887 million, +23% y/y, estimated at €875.5 million
- Net revenues in North America €242.0 million, +27% y/y, estimated €236.1 million
- Net revenues in the APAC region €98.0 million, +25% y/y, estimated €116.5 million
- Net revenues in the EMEA region €491.0 million, +23% y/y, estimated €476.6 million
- Revenues €1.01 billion, -80% y/y, estimated €981.2 million
- Processing fees €251.2 million, +21% y/y, estimated €246.7 million
- Settlement fees €596.2 million, -87% y/y, estimated €974.4 million
- Ebitda margin 48%, estimated 44.1%
- Ebitda €423 million, +14% y/y, estimated €388.9 million
- Processed volumes €544.1 billion, +29% y/y, estimated €514.33 billion
- Net profit €416.1 million, +48% y/y, estimated €343 million
- Operating profit €378.5 million, +13% y/y, estimated €340.4 million
- Profit before tax €569.6 million, +58% y/y, estimated €437.9 million
- Costs incurred by financial institutions €73.4 million, -98% y/y, estimated €100 million
- Costs of goods sold €49.5 million, +72% y/y, estimated €43.6 million
- Diluted earnings per share €13.36 million vs. €9.08 million y/y, estimated €11.00 million
- Free cash flow €391.8 million, +31% y/y, estimated €341.7 million
The company is steadily increasing its net income. Source: Bloomberg Financial LP
Adyen shares began today's trading with a sharp upward gap, which with its range touched the resistance zone set by the 38.2% Fibo retracement and the local lows of July and August 2023. Source: xStation
