PayPal: stock market carnage!

Posted 02 February, 2022

PayPal was down 18% after trading on Wall Street last night. For the fourth fiscal quarter, the group announced yesterday, after the close, adjusted earnings per share of $1.11, against $1.12 consensus and $1.08 a year earlier. The payment service provider's revenue was $6.92 billion for the past quarter, up from $6.12 billion a year earlier. Revenues beat consensus by 0.6%. Thus, profits have missed the consensus, while incomes are decelerating. Net profit was $801 million and 68 cents per share, compared with $1.57 billion a year earlier. The Californian group from San Jose recovered 9.8 million new active accounts over the period, and the total amount of payments was 340 billion dollars, an increase of 23%.

Over the current financial year, PayPal anticipates an annual growth in payment volume of 19% to 22%.

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