News Formal

PayPal CEO plans his exit, stock rises after earnings and forecast beat

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

PayPal posted fourth-quarter net income of $921 million, or 81 cents a share, up from $801 million, or 68 cents a share, in the year-earlier period. After adjustments, $PYPL earned $1.24 a share, whereas analysts were expecting $1.20 a share.

PayPal Holdings Inc.’s cost-savings story continued in the holiday quarter, as the digital-payments company topped profit expectations for the period and issued an upbeat annual earnings forecast as its chief executive plans his exit.

The company is in the midst of cutting expenses as it refocuses on its core strengths, through a plan announced last summer. PayPal announced last week that it intended to lay off 7% of its staff as it further dialed in on its priorities. Chief Executive Dan Schulman said in the company’s earnings release that PayPal had “a transformative year” in which it “invested in our platform to better serve our customers” but also streamlined the business.

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:

 /  🏆 3. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

PayPal CEO Dan Schulman to leave at end of 2023, company begins search for successorPayPal CEO and president Dan Schulman is retiring from the company and will leave at the end of 2023.
Source: CNBC - 🏆 12. / 72 Read more »