PayPal Shares Slip 5.6% on Lower FY22 Revenue View
04 November 2022 - 8:34AM
Dow Jones News
By Denny Jacob
PayPal Holdings Inc. shares slipped 5.6% to $72.23 in
after-hours trading Thursday after lowering revenue projections for
fiscal 2022.
The payments company forecast revenue of $27.5 billion for the
year, reflecting growth of 8.5% and growth of 10% on a foreign
exchange neutral basis. PayPal previously guided for revenue of
$27.85 billion for the period, reflecting growth of 10% and growth
of 11% on a foreign exchange neutral basis.
PayPal also lowered its total payment volume growth outlook,
calling for 8.5% growth rate for fiscal 2022 compared to a 12%
growth rate outlook in the second quarter.
The company expects adjusted earnings of $4.07 to $4.09 a share
for fiscal 2022, above its prior forecast of $3.87 to $3.97 a
share.
The San Jose, Calif.-based company said it expects
fourth-quarter revenue of $7.38 billion and adjusted earnings
between $1.18 to $1.20 a share.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
November 03, 2022 17:19 ET (21:19 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
PayPal (NASDAQ:PYPL)
Historical Stock Chart
From Mar 2024 to Apr 2024
PayPal (NASDAQ:PYPL)
Historical Stock Chart
From Apr 2023 to Apr 2024
