Although PayPal’s third-quarter earnings were better than anticipated, the company’s revenue was a little behind projections. Tuesday’s share price fell 7% after the earnings announcement.
Here is how the business performed in relation to Wall Street projections, as determined by an LSEG survey of analysts:
Compared to the predicted $1.07, adjusted earnings per share were $1.20.$7.85 billion in revenue as opposed to the projected $7.89 billion The quarter’s revenue climbed almost 6% from $7.42 billion during the same period last year.
In comparison to $1.02 billion, or 93 cents per share, a year ago, PayPal posted net income of $1.01 billion, or 99 cents per share.
This is CEO Alex Chriss’s first earnings report after he became a one-year employee in September.
As of Tuesday, PayPal’s shares had risen 36% so far this year and 42% since Chriss joined the payments company, which at the time was in a severe downturn as a result of growing competition and a falling take rate, or the portion of money PayPal keeps from each transaction.
Source (CNBC)
