Two global payments companies released results with very different results. The Uruguayan fintech company, dLocal, saw its shares rise more than 30% following the news that the payments team had chosen former Mercado Libre CFO Pedro Arnt as its new co-CEO. With the closing of that day It rose almost 32% to $20,45, after rising as high as $24,22 earlier in the day, giving the company a valuation of $6.000 billion.
That increase added to the peak on Aug. 15 after the company beat earnings estimates when releasing its second-quarter financial results. Surprisingly, dLocal reported revenue of $161 million, up 59% year over year and up 17% quarter over quarter. The company also saw a big jump in results, reporting gross profit of $70,8 million in the second quarter of 2023, up 43% year over year compared to $49,6 million in the second quarter of 2022 and a 14% increase. % up compared to $61,8 million in Q2023 XNUMX.
The co-founder of dLocal Sergio Fogel He rejoined the company in June as co-president and chief strategy officer, according to a Bloomberg report, “as part of a push to help regain investor confidence and stabilize the company's shares after they fell following an investigation in Argentina and an attack by a short seller.”
Prior to said incorporation, The shares were quoted at just under $20 and the company's market capitalization was around $5.8 billion.
Simultaneously, the actions of the Dutch payment processor adyen sank “to its lowest level in more than three years” on Friday, it was reported Reuters and other means. The actions were they quoted to $872 as of Friday afternoon, a significant drop from a 52-week high of $1,763.80. That was after a 39% drop on Thursday, according to CNBC after the company “reported worse-than-expected sales and a drop in profits in the first half of the year.”
Specifically, Adyen recorded revenue of 804,3 million of dollars in the first half of 2023, 21% more than a year ago, but below analyst estimates. According to CNBC, "Adyen attributed the tepid impression to increased hiring, firmer salaries and a shift in its North American clients' business prioritization from growth to cost savings in the first half of the year." He revenue growth is slowing down. In the first half of 2022, revenue increased 37% year over year. Despite the not-so-good news, Adyen remains one of the most valued fintechs in Europe, with a market capitalization of $27.220 billion.
In particular, while Adyen has made a big effort in North America, dLocal has done the opposite: saying the market is already well served and instead focusing its efforts on emerging markets like Latin America and Africa.
