PayPal Slumps After Profit Guidance Clouds Q3 Earnings Beat

PayPal Holdings Inc.  (PYPL) – Get Report shares slumped lower Tuesday after the e-commerce payments group issued modest near-term profit guidance that clouded a third quarter surge in earnings and revenues.

PayPal said non-GAAP earnings for the three months ending in September rose 75% from last year to $1.07 per share as revenues surged 25% to $5.46 billion. Both figures topped Street forecasts, but a relatively conservative outlook for the fourth quarter, where the group sees profits rising in a range of between 17% and 18% and revenues rising by between 20% and 25%, sent shares lower in pre-market trading.

Source link

error: Content is protected !!

New Report