PayPal earnings disappoint investors, shares fell 7% in extended trading

  • 📰 TheBlock__
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

PayPal's quarterly operating margin failed to appease investors yesterday, sending its share price down 7% in extended trading.

The payments company’s adjusted operating margin came in below expectations.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.PayPal's quarterly operating margin failed to appease investors yesterday, sending its share price down 7% in extended trading — though executives at the American payments behemoth shared optimistic year-end expectations.

"When we think about the back half, in Q3, we'll still see some pressure on transaction margin performance," acting CFO Gabrielle RabinovitchPayPal's adjusted operating margin for Q2 2023 came in at 21.4% — below its forecasted 22% — due to slowed growth in branded products in the face of increased competition from Apple and others.

PayPal CEO Dan Schulman — who's retirement was announced in February — also blamed inflation for slowing e-commerce growth but believes cooling inflation is"accelerating" it again.PayPal Ventures led

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 464. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves after hours: PayPal, Robinhood, Qualcomm, Clorox, DoorDash and moreThese are the stocks posting the largest moves in extended trading.
Source: CNBC - 🏆 12. / 72 Read more »

PayPal's stock falls as earnings beat, but a margin metric missesCEO Dan Schulman said PayPal was seeing encouraging spending trends throughout the business and in the industry, as e-commerce growth picks up.
Source: MarketWatch - 🏆 3. / 97 Read more »