Venmo owner PayPal is one of the worst stocks of 2022

PayPal warned back in February that its sales and new active user growth would be below forecasts. Chief financial officer John Rainey said the combination of inflationary pressures, supply chain issues and the lack of any new stimulus from the federal government was hurting consumer sentiment and spending.PayPal reported its first quarter results after the closing bell Wednesday. Sales grew 8% from a year ago, slightly ahead of forecasts.

That means that consumers may look to make more purchases with credit and debit cards or cash in physical stores and make fewer digital payments for online shopping, said Christopher Vecchio, senior strategist at DailyFX.As digital payment rivalry grows, should PayPal do a deal?Competition is intensifying as well and it's not helping.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

PayPal cuts earnings outlook, but user growth quells some fearsPayPal’s revenue and user growth came in slightly ahead of expectations Wednesday, but $PYPL cut its outlook for the full year. The company posted Q1 net income of $509 million, down from $1.1 billion, in the year-earlier period.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »

These 21 large-cap stocks have now crashed at least 50%Pummeled stocks include Netflix, PayPal and Facebook parent Meta Platforms. And still look 25% too much.. Who will Cramer kill next? 🤔
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »

Tech stocks slump again; Nasdaq has worst loss since 2020Stocks closed broadly lower on Wall Street Tuesday, weighed down by sharp declines in big tech stocks that also left the Nasdaq composite with its worst drop since September 2020. Go woke go broke. More big budget cuts coming for schools. CalSTRS is $100 billion in debt and invests in loads of garbage.
مصدر: latimes - 🏆 11. / 82 اقرأ أكثر »