PayPal gives downbeat earnings forecast, shares plunge

:PayPal Holdings Inc on Tuesday forecast first-quarter revenue and profit well below expectations, as it prepares to take a hit from eBay Inc's ongoing move to ditch its payments services, sending its shares down 17.4per cent.

"In the second half of the year, I look forward to being able to stop adjusting for eBay, and letting the strength of our core results speak for themselves," Schulman added. "Many of these stocks have been pushed up for years and have had very high valuations, so once they start to show cracks investors bail."

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Japan utilities reel, some more than others, as sky-high fuel prices hit earningsTOKYO : All of Japan's 10 regional utilities have slashed their earnings estimates for this business year on soaring fossil fuel prices, but Kyushu Electric and Kansai Electric are weathering the pain better, having managed to restart nuclear plants.Highly dependent on fossil fuels since the 2011 Fukushim
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »