PayPal Holdings Inc.’s cost-savings story began to play out in the latest quarter, but that wasn’t enough to satisfy investors as the digital payments giant also cut its revenue forecast for the full year in light of the “rough macro environment.”
See also: Block stock rockets higher after earnings as Square parent posts a ‘strong beat all around’ PayPal reported adjusted earnings of $1.08 a share in the latest quarter, down from $1.11 a share a year before but ahead of the FactSet consensus, which was for 96 cents a share. Executives now model $4.07 a share to $4.09 a share in adjusted earnings for the full year, which is ahead of the prior forecast that called for $3.87 a share to $3.97 a share.
Earlier this year, PayPal began to shift its focus more on generating engagement among existing users than on attracting and retaining less active customers.
God I hate the whole PayPal mafia, so pretentious.
-$2,500 fine
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