Adyen shares slump as analysts flag rise in operating expenses and disappointing take-up rate

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Shares of Dutch payments processor Adyen ADYEN, -11.75% slumped 11% in early trade after missing expectations on EBITDA, even as payments volume soared 60%. Margins deteriorated after a 47% increase in operating expenses, said Paul Charpentier, an analyst at Bryan Garnier. He also flagged a disappointing take-up rate. “Note that the drop in take rate was driven by a combination of the ramp up in the eBay contract, Adyen’s tiered pricing strategy paired with growth from existing merchants already on-boarded in previous periods and a bounce in airline volumes,” added analysts at Stifel.

This article was originally published by Marketwatch.com. Read the original article here.

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