Adyen Plunges After Margin Miss as Hiring Push Defies Rivals
- Dutch payments firm reiterates its long-term margin outlook
- Morgan Stanley expects investors to question Adyen hiring pace
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Adyen NV shares plunged after it reported second-half earnings that missed estimates, weighed down by a hiring push that contrasts with mounting job cuts across the tech industry.
The company’s margin on earnings before interest, taxes, depreciation and amortization — a measure of profitability — was 52% for the six months ended December 2022. That compares with an average estimate of 59.7% in a Bloomberg survey of analysts.