Adyen: shares jump as results impress

(CercleFinance.com) - Shares in Dutch fintech company Adyen jumped by almost 6% on Tuesday after it reported better-than-expected first-quarter results.


With processed volumes up 38% year-on-year, first-quarter net revenue rose by 34% year-on-year in the quarter, the group said in a trading update.

The payment technology company - which provides clients such as Spotify and Mango with a single platform to process payments across online - said core earnings (EBITDA) rose by 16% to 64 million euros in the past quarter.

"These first-quarter figures reflect impressive growth momentum", analysts ar Paris-based broker Invest Securities commented this morning.

Adyen shares were up 5.9% in late morning trading, making them the biggest winners on the pretty flat Dutch blue-chip index, the AEX.

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