(Reuters) -French payments company Worldline plunged to a full-year net loss after it took a 1.15 billion euros ($1.25 billion) impairment in its merchant services division and signalled a weak outlook, sending its shares down 15% on Wednesday. Paris-based Worldline, which processes digital payments for clients ranging from merchants to government agencies, boomed during the pandemic when investors piled into European payments companies, attracted by their rapid growth as customers ditched cash and by consolidation in the industry. But Worldline shares lost more than half their value in October, sending shockwaves across the sector, after it cut its full-year financial targets, citing an economic slowdown and heightened scrutiny over money-laundering risks in Germany.
Good morningBonjour, Please find attached the press release related to Worldline's FY 2023 results that the Group publishes today.Veuillez trouver ci-joint le communiqué de presse relatif aux résultats annuels 2023 de Worldline que le Groupe publie aujourd’hui. The Management of Worldline invites you to an international conference call today at 8:00 am (CET – Paris). You can join the webcast of the conference on www.worldline.com in the Investors section. La Direction Générale de Worldline vous
The payment company is working with Google Cloud to develop new forms of machine learning on a larger scale.