Adyen stock surges on strong H2 2021 earnings

Pieter van der Does, chief executive officer of Adyen.

Simon Dawson | Bloomberg | Getty Images

Dutch payments processor Adyen reported a 51% jump in core earnings in the first half of 2021, topping expectations and sending its stock price sharply higher.

The company said Wednesday that net revenue in the period came in at 556.5 million euros ($635.9 million), up 47% year-on-year. Earnings before interest, tax, depreciation and amortization (EBITDA) rose 51%, to 357.3 million euros.

That was higher than the 552 million euros of net revenue and 346 million euros of EBITDA expected by analysts, according to Reuters.

Adyen’s profit margin climbed to 64% in the second half, up from 61% in the first half. Its total processed transaction volume climbed 72% to 300 billion euros.

The firm said its guidance remained unchanged from the last time it published results.

Shares of Adyen rose more than 11% on the news. The stock is still down more than 20% year-to-date amid a slump in tech stocks due to fears over higher interest rates. The Amsterdam-based firm has a market value of almost $60 billion.

Speaking about Adyen’s share price decline, CEO Pieter van der Does told CNBC: “That doesn’t impact our thinking. We are building for the long term.”

Divergence with PayPal

“In terms of inflation in pricing, our pricing is for a large part ad valorem. So we are automatically compensated for inflation there.”

No M&A plans

Jinggo B Danuarta

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