We are entering the thick of fintech earnings season and in the last 24 hours, we have seen earnings from two fintech pioneers: PayPal and Adyen.
They tell very different stories.
PayPal reported after the bell yesterday and investors were not pleased. CEO Alex Chriss has only been in the job a few months but this is the second setback in the last month following the disastrous “shock the world” statement.
The main issue was the forward guidance as the company implied it will not see meaningful improvement in growth or profits this year.
Contrast that with Adyen. The European online payments giant reported strong growth and better than expected profit numbers in 2023. It has also slowed hiring to protect its margins.
Investors loved Adyen’s results and shares were up 22% in trading on Thursday while PayPal was down 11% as of this writing.
Featured
> Stripe rival Adyen’s shares soar 22% as European payments giant posts profit beat, slows hiring
By Ingrid Lunden
Shares of European online payments giant Adyen popped after the firm reported strong sales growth and better-than-expected profit numbers for 2023.
> PayPal tumbles as flat profit growth forecast in 2024 clouds strategy shift
www.reuters.com
PayPal shares fell 9% in early trading on Thursday after it forecast a flat adjusted profit for 2024, disappointing investors who had hoped the payments firm’s newly appointed CEO will reignite its growth.
From Fintech Nexus
> Fintech Kueski takes BNPL to Amazon Mexico
By David Feliba
Mexican fintech Kueski announced a partnership with Amazon to offer BNPL on its marketplace, a first for the retail giant in Mexico.
> Navigating the Surge in Subscription Declines: An Industry Insider’s View
By Tony Allen
With a surge in subscription declines what is a consumer subscription business or a SaaS platform to do? There are steps you can take to decrease losses.
Editorial Cartoon
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