Adyen stock climbs as profit climbs and revenue jumps 23%

By Najat Kantouar

Adyen shares rose after the company reported a rise in net profit for the second half of fiscal 2023, reflecting the strength of wallet share investment.

At 0835 GMT, shares (NL:ADYEN) were up 15%, or 178.6, at 1362.1 European cents. Over the twelve past months, shares were up 6.47%.

The Dutch payments company said Thursday that for the six months ended Dec. 31 net profit was 416.1 million euros ($448.3 million) compared with EUR282.0 million for the same period a year earlier.

Earnings before interest, taxes, depreciation and amortization for the period rose to EUR423.0 million from EUR372.0 million, with margin up 48% in the second half of 2023, compared with 43% in the first half of 2023.

Net revenue for the period rose 23% to EUR887.0 million, reflecting the strength of continued long-term partnerships, Adyen said.

Regionally, net revenue contributions continued to diversify, with EMEA contributing 55%, followed by North America at 27%, it said. North America was the fastest growing region, up 27%.

The company said it processed EUR544.1 billion in payments in the half year, up 29%.

Write to Najat Kantouar at najat.kantouar@wsj.com

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

02-08-24 0648ET

Copyright (c) 2024 Dow Jones & Company, Inc.