PayPal cuts earnings outlook, but user growth quells some fears

PayPal Holdings Inc.’s revenue and user growth came in slightly ahead of expectations Wednesday, but the payment-technology giant cut its outlook for the full year.

PayPal’s revenue climbed to $6.5 billion from $6.0 billion a year prior, while analysts tracked by FactSet had been looking for $6.4 billion. Shares bounced between gains and losses in after-hours trading Wednesday, following a rough start to the year. PayPal’s stock has fallen more than 50% in 2022 as the company undergoes a number of business transitions.

PayPal generated $323 billion in total payment volume in its latest quarter, up from $285 billion a year earlier and even with the FactSet consensus, which was for $323 billion. PayPal had 429 million active accounts as of the March quarter, compared with 426 million as of the December quarter and 392 million as of the prior March quarter. Analysts surveyed by FactSet were modeling 428.4 million active accounts.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Thai Finance Ministry Cuts Growth Outlook on War, InflationThailand’s finance ministry expects economic growth this year to be slower than previously estimated as the nation faces the impact of accelerating inflation and Russia’s war in Ukraine.
Fuente: economics - 🏆 71. / 68 Leer más »

Microsoft earnings beat across the board, stock up on outlookMicrosoft's Azure cloud revenue came in higher than analysts had expected, with the company citing strong demand for consumption-based services. Phew Thats cheat: Microsoft and Outlook 🤔🙄😏😁 What happened to Samsung Electronics's stock who beat the market expectation consecutively more than a year in a row ?
Fuente: CNBC - 🏆 12. / 72 Leer más »

Investment Banks Slash Expectations for China's Economic Outlook — One Sees GDP Growth of Less Than 4%Several investment banks have cut their China growth forecasts as Covid lockdowns drag on in the economic hub of Shanghai.
Fuente: nbcchicago - 🏆 545. / 51 Leer más »