Adds CFO quotes on US market, M&A, share move, analyst's comment in paragraph 7-10

By Gianluca Lo Nostro

May 6 (Reuters) - Adyen ADYEN.AS, the Dutch company that processes payments for Uber and eBay, met first-quarter revenue expectations on Wednesday, as it continued to process a higher volume of transactions despite slower consumer spending activity.

Net revenue in the quarter ended in March grew 20% on a constant currency basis, reaching 620.8 million euros ($728.3 million). Analysts expected on average revenue of 621.3 million euros with 20% growth, according to consensus data provided by the company.

Processed volume, the value of all payments processed, rose to 382 billion euros, up 21% from last year, and above the forecast of 374 billion euros.

Payments processors like Adyen are viewed as a barometer for the health of consumer spending as their volumes reflect trends in both online and in-store purchasing.

Recent U.S. economic data for the first quarter showed that while the economy grew, consumer spending lost momentum as inflation and geopolitical uncertainty weighed on household budgets.

Still, while European peers grapple with disappointing earnings and slumping sales, Adyen has consistently gained market share in other continents, particularly in North America where it competes with PayPal PYPL.O and Stripe.

"We are very much focused on that market," finance head Ethan Tandowsky said in an interview with Reuters. But despite its large international investor base, a dual listing in the U.S. is not the company's focus at the moment, he said.

Adyen will buy software firm Talon.one later this year for 750 million euros, the first-ever acquisition in its 20-year history. However, this will not change the company's cautious strategy on acquisitions, particularly on payments infrastructure, according to Tandowsky.

Shares in Adyen fell 2.5% in early Amsterdam trading, with J.P. Morgan analysts flagging a softer take rate - the percentage of revenue from transactions kept by Adyen - in the quarter.

($1 = 0.8524 euros)