Adyen beats earnings forecast on market share gains, lower costs
Dutch payments company Adyen beat half-year core profit expectations on Thursday, helped by market share gains, slower hiring and lower one-off expenses.
Adyen: Cheap Cash Cow
Adyen is a financial technology platform offering end-to-end payment capabilities to large groups. Among other features, the company's technology is expected to offer in-store, digital, and in-app payments in a single solution. The new expansion could bring economies of scale that management promised in their corporate reports, and may drive costs lower and unleveled FCF growth up.
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Adyen: Ignoring The Noise
Adyen reported a very strong processed volume number which is up 46% from the prior year, while revenues came in in-line, growing 21% from the prior year. As a result, take rates were the main focus in the quarter, as it came in at 14.7 basis points, slightly below the consensus of 15.7 basis points. The main reason for the weakness in take rates was due to mix, as collective large customer volume expansion resulted in processed volume growing faster than revenues.
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