Shares of Adyen lost ground in early Thursday deals, as the company reported a slowdown in the growth of its transaction volumes in the third quarter.
Shares of Adyen initially failed to open Thursday after the company’s third-quarter report, but resumed trade. The stock was down 9.8% at 8:35 a.m. London time, taking it to the bottom of the pan-European Stoxx 600.
Adyen’s sales growth came off the back of a rise in total processed volume (TPV), which climbed 32% year-over-year to 321 billion euros. In the first half, Adyen posted a 45% jump in TPV, after previously reporting 46% year-over-year growth in the first quarter.
Analysts at Citi said in a research note that “weaker” transaction volume was likely to attract most of the focus from investors Thursday, amid concerns over end-market weakness.
“Either way, the take rate on the processed volume is comfortably higher than expected and, if sustainable, should support sales growth acceleration in 2025/26, while the lower run-rate of hiring should support continued margin uplift,” they wrote.
Digital processed volumes grew 29% year-over-year, Adyen said, lower than in the previous quarter due to impacts from a single large-volume customer, Block’s Cash App.
The company otherwise reported a jump in sales in the third quarter as the Dutch payments firm gained wallet share and added new customers, diversifying its merchant mix. Adyen, whose technology allows businesses to accept payments online and in-store, reported third-quarter net revenue of 498.3 million euros ($535.5 million), up 21% year-on-year on a constant currency basis.
The firm observed stronger traction from in-store payments in the third quarter, with its “unified commerce” point-of-sale terminals seeing 33% year-over-year growth, as it installed base of physical payment devices increased by 46,000 to 299,000.
Adyen also said that it expanded hiring slightly, adding 35 new people in the quarter. The firm has been slowing hiring in the past year following concerns over its pace of investment.
Last year, the Dutch payments giant’s shares tanked nearly 40% in a single day on the back of worse-than-expected sales and declining profits in the first half of 2023
.
Payments firms saw a boost from an increase in online shopping during the height of the Covid-19 pandemic.
But in recent years, companies such as Adyen have faced pressure from lower consumer spending.
Adyen, however, has benefited from significant growth from partnerships with its North American clients, such as Cash App in the U.S. and Shopify in Canada.
Adyen kept guidance unchanged Thursday, saying it expects to achieve net revenue growth between the low to high-twenties percent, up to and including 2026.
The firm added it expects to improve its earnings before interest, tax, depreciation and amortization to levels above 50% by 2026.
Capital expenditure will remain consistent at a level of up to 5% of net revenues, Adyen said.
Chris Martin of Coldplay performs at the O2 Shepherd’s Bush Empire on October 12, 2021 in London, England.
Simone Joyner | Getty Images Entertainment | Getty Images
Astronomer, the technology company that faced backlash after its CEO was allegedly caught in an affair at a Coldplay concert, said the CEO has resigned, the company announced Saturday.
“Andy Byron has tendered his resignation, and the Board of Directors has accepted,” the company said in a statement. “The Board will begin a search for our next Chief Executive as Cofounder and Chief Product Officer Pete DeJoy continues to serve as interim CEO.”
Byron was shown on a big screen at a Coldplay concert on Wednesday with his arms around the company’s chief people officer, Kristin Cabot. Byron, who is married with children, immediately hid when the couple was shown on screen. Lead singer Chris Martin said, “Either they’re having an affair or they’re just very shy.” A concert attendee’s video of the affair went viral.
In May, Astronomer announced a $93 million investment round led by Bain Ventures and other investors, including Salesforce Ventures.
Byron’s resignation comes after Astronomer said Friday that it had launched a “formal investigation” into the matter, and the CEO was placed on administrative leave.
“Before this week, we were known as a pioneer in the DataOps space, helping data teams power everything from modern analytics to production AI,” the company said in its Saturday statement. “Our leaders are expected to set the standard in both conduct and accountability, and recently, that standard was not met.”
Jensen Huang, co-founder and CEO of Nvidia Corp., speaks during a news conference in Taipei on May 21, 2025.
I-hwa Cheng | Afp | Getty Images
Nvidia CEO Jensen Huang sold 75,000 shares on Friday, valued at about $12.94 million, according to a filing with the U.S. Securities and Exchange Commission.
Friday’s sale is part of a plan adopted in March for Huang to sell up to 6 million shares of the leading artificial intelligence company. Earlier this week, Huang sold 225,000 shares of the chipmaker, totaling about $37 million, according to a separate SEC filing. The CEO began trading stock per the plan last month.
Surging demand for AI and the graphics processing units that power large language models has significantly boosted Huang’s net worth and pushed Nvidia’s market capitalization beyond $4 trillion, making it the world’s most valuable company.
Nvidia announced this week that it expects to resume sales of its H20 chips to China soon, following signals from the Trump administration that it would approve export licenses. Earlier this year, U.S. officials had stated that Nvidia would require special permission to ship the chips, which are specifically designed for the Chinese market.
“The U.S. government has assured NVIDIA that licenses will be granted, and NVIDIA hopes to start deliveries soon,” the company said in a statement on Tuesday. Huang said during a news conference on Wednesday in Beijing that he wants to sell chips more advanced than the H20 to China at some point.
Peter Thiel, co-founder of PayPal, Palantir Technologies, and Founders Fund, holds hundred dollar bills as he speaks during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 7, 2022 in Miami, Florida.
Marco Bello | Getty Images
The Peter Thiel-backed cryptocurrency exchange Bullish filed for an IPO on Friday, the latest digital asset firm to head for the public market.
The company, led by CEO Tom Farley, a veteran of the finance industry and former president of the New York Stock Exchange, said it plans to trade on the NYSE under the ticker symbol “BLSH.”
A spinout of Block.one, Bullish started with an initial investment from backers including Thiel’s Founders Fund and Thiel Capital, along with Nomura, Mike Novogratz and others. Bullish acquired crypto news site CoinDesk in 2023.
“In the first quarter of 2025, Bullish exchange executed over $2.5 billion in average daily volume, ranking in the top five exchanges by spot volume for Bitcoin and Ether,” the company said on its website. The prospectus listed top competitors as Binance, Coinbase and Kraken.
The IPO filing says that as of March 31, the total trading volume since launch has exceeded $1.25 trillion.
Read more CNBC tech news
The filing is another significant step for the cryptocurrency industry, which has fought for years to convince institutions to embrace digital assets as legitimate investments.
It’s already been a big year on the market for crypto offerings, highlighted by stablecoin issuer Circle, which has jumped more than sevenfold since its IPO in June. Etoro, an online trading platform that includes services for crypto investors, debuted in May.
Novogratz‘s crypto firm Galaxy Digital started trading on the Nasdaq in May, moving its listing from the Toronto Stock Exchange. And in June, Gemini, the cryptocurrency exchange and custodian founded by Cameron and Tyler Winklevoss, confidentially filed for an IPO in the U.S.
Meanwhile, investors continue to flock to bitcoin. The digital currency is trading at over $117,000, up from about $94,000 at the start of the year.
President Donald Trump, on Friday, signed the GENIUS Act into law — a set of regulations that establish some initial consumer protections around stablecoins, which are tied to assets like the U.S. dollar with the intent of reducing price volatility associated with many cryptocurrencies.
In its filing with the SEC, Bullish says its mission is partly to “drive the adoption of stablecoins, digital assets, and blockchain technology.”
Crypto industry players, including Thiel, Elon Musk, and President Trump’s AI and Crypto czar David Sacks spent heavily to re-elect Trump and have pushed for legislation that legitimizes digital assets and exchanges.