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Adyen tops profit forecast on market expansion and slower hiring, shares jump

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:Dutch payments company Adyen beat half-year core profit expectations driven by market share gains, slower hiring and lower one-off expenses on Thursday, sending its shares more than 5 per cent higher.

FILE PHOTO: The Adyen logo is seen at the reception desk of the company's headquarters in Amsterdam, Netherlands August 24, 2018. Picture taken August 24, 2018. REUTERS/Eva Plevier/File Photo

Adyen's biggest growth driver is improving demand from existing clients and its ability to expand services for them, finance chief Ethan Tandowsky told Reuters in an interview. Adyen has a single-digit percent market share in the Europe, Middle East and Africa region and North America, leaving it ample room to grow there, it said.

Its half-year core profit rose 32 per cent to 423.1 million euros , beating the average estimate of 413.39 million from 13 analysts polled by LSEG.

 

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