We’re coming into the thick of fintech earnings season and within the final 24 hours, we have now seen earnings from two fintech pioneers: PayPal and Adyen.
They inform very totally different tales.
PayPal reported after the bell yesterday and buyers weren’t happy. CEO Alex Chriss has solely been within the job a number of months however that is the second setback within the final month following the disastrous “shock the world” assertion.
The primary problem was the ahead steerage as the corporate implied it is not going to see significant enchancment in progress or income this 12 months.
Distinction that with Adyen. The European on-line funds large reported sturdy progress and higher than anticipated revenue numbers in 2023. It has additionally slowed hiring to guard its margins.
Buyers cherished Adyen’s outcomes and shares have been up 22% in buying and selling on Thursday whereas PayPal was down 11% as of this writing.
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> Stripe rival Adyen’s shares soar 22% as European funds large posts revenue beat, slows hiring
By Ingrid Lunden
Shares of European on-line funds large Adyen popped after the agency reported sturdy gross sales progress and better-than-expected revenue numbers for 2023.
> PayPal tumbles as flat revenue progress forecast in 2024 clouds technique shift
www.reuters.com
PayPal shares fell 9% in early buying and selling on Thursday after it forecast a flat adjusted revenue for 2024, disappointing buyers who had hoped the funds agency’s newly appointed CEO will reignite its progress.
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