By Shares in Nexi, the Italian payments company, experienced a decline in Tuesday morning trading as its second-quarter revenue growth was lower than the previous quarter. At 0930 GMT, Nexi shares traded 5.6% lower at EUR7.43.
In the second quarter, Nexi posted revenue of 835.3 million euros ($918.7 million), marking a 7.3% increase compared to the previous year. However, this growth was below the 9% seen in the first quarter.
UBS analysts noted that management had anticipated a slowdown in organic growth after the first quarter. Regardless, the analysts believe that the company’s second-quarter performance is better than expected.
The reported revenue aligns with Visible Alpha’s consensus of EUR833.5 million and UBS’s forecast of EUR835.2 million.
Earnings before interest, taxes, depreciation, and amortization (EBITDA), a significant profitability measure, increased by 10% to EUR436.1 million. This surpassed the consensus estimate of EUR433 million and UBS’s estimate of EUR430 million.
For the full year, Nexi maintains its expectation of over 7% year-on-year growth in revenue and over 10% year-on-year growth in EBITDA.
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