Live news: CVS shares see biggest fall in 10 months after insurer drops its pharmacy service

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Shares in Dutch payments company Adyen fell by a fifth on Thursday after its said profits were down 10 per cent, driven by a continued hiring spree.

But the fintech still hopes to grow its workforce by around 12 per cent this year.

Adyen, which had a market value of €45.6bn before Thursday’s move, said earnings before interest, taxes, depreciation and amortisation for the six months to June 30 were €320mn, down 10 per cent from 2022 and below analyst estimates of €365mn.

The major driver was an 80 per cent increase in staff remuneration to €247mn over the period, as headcount grew by 551 to 3,883.

Chief financial officer Ethan Tandowsky said the company planned to hire a similar number of people in 2023 as it hired last year, when it added more than 1,000 new employees.

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