"Adyen's Shares Soar 22% on Profit Beat and Hiring Slowdown"
Adyen's shares surged 22% after reporting strong sales growth and better-than-expected profit for 2023, despite a miss on first-half sales. The European payments giant also announced a slowdown in hiring to address concerns about aggressive spending on expansion, with a focus on hiring outside of Amsterdam. Adyen faces competition from Stripe, PayPal, and Block, and has been scrutinized for its pricing and margin amid challenges in the payment industry.