Europe's Stripe rival Adyen dives 39% after slowest sales growth on record
Publishing timestamp: 2023-08-17 13:04:31
Summary
Adyen, a European payments giant, reported lower-than-expected sales and profit drop in the first half of the year. The company attributed this to increased hiring, firmer wages, and a shift in its North American customers' business priorities. Adyen's shares fell nearly 39% as a result. The company faces competition from other online payment companies and has been impacted by negative economic events. Adyen is betting on its unified single payments platform to give merchants access to a variety of services.
Sentiment: NEGATIVE
Tickers: ADYEN-NL,
Keywords: breaking news: technology, business news, technology, markets, adyen nv, internet, fintech, breaking news: markets,