The share slide set the stock up for its lowest opening since May 2020, as PayPal also listed out a number of other factors hurting its performance, including high inflation, the end of stimulus checks and the impact of the ongoing supply chain issues on cross-border volumes.
PayPal's operating agreement with eBay, its former parent, has ended and the online marketplace's transition to its own payments platform is impacting transaction volumes, the company said on Tuesday. "Taken together, supply chain management problems, inflationary pressure on spending by low income customers and ongoing steep declines in eBay volumes created stiff headwinds exiting 4Q/21 that will persist at least through 1H/22," Evercore ISI analysts wrote in a note.
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