From CNBC: 2024-11-07 01:55:01

Adyen’s first-half sales miss led to a $20 billion market cap drop. However, the Dutch payments firm saw a sales boost in Q3, with net revenue up 21% year-on-year. Adyen credits growth to new customers and partnerships with North American clients like Square’s Cash App and Shopify.

During the pandemic, Adyen and other payment firms benefited from increased online shopping. Despite pressure from lower consumer spending, Adyen’s Q3 success shows growth potential. Last year, Adyen’s shares plummeted 40% due to poor sales and declining profits. The company remains resilient and focused on expanding its market share globally.

Read more: Payments giant Adyen reports 21% jump in third-quarter sales