Stock down 39% after record low sales growth

Shares of Adyen, the European payments giant taking on U.S. titan Stripe, fell nearly 39% on Thursday after the company reported worse-than-expected sales and a profit drop in the first half of the year.

Here’s how the company performed:

• Revenue of 739.1 million euros ($804.3 million) over January to June 2023, up 21% from a year ago. This came in below analyst estimates of 853.6 million euros of revenue and 40% of year-on-year growth, according to Eikon data.
• EBITDA (earnings before interest, tax, depreciation and amortization) of 320 million euros, down 10% from 356.3 million euros in the…