Monday, December 5, 2022
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PayPal (PYPL) Q3 2022 earnings


The PayPal brand displayed on a smartphone display with a inventory market graphic within the background.

Omar Marques | SOPA Photographs | LightRocket | Getty Photographs

PayPal shares fell greater than 5% in after-hours buying and selling, regardless of beating earnings and income expectations for the third quarter, as the corporate’s This autumn income estimate got here in behind analysts’ expectations.

This is what PayPal reported:

  • Earnings per share (EPS): $1.08 per share, ex-items, vs. 96 cents anticipated, in response to a Refinitiv survey of analysts
  • Income: $6.85 billion, vs. $6.82 billion anticipated, in response to Refinitiv

The corporate estimated This autumn revenues to return in at $7.38 billion, which is lower than the $7.74 billion consensus expectations, in response to analysts surveyed by Refinitiv

PayPal raised EPS steering for the total fiscal yr, saying it is benefited from “ongoing productiveness initiatives.” It expects so as to add 8 to 10 million web new lively customers within the fiscal yr.

The corporate stated it is working with Apple to boost its choices for PayPal and Venmo, together with by letting U.S. service provider prospects settle for contactless funds by their cell wallets and including PayPal and Venmo network-branded credit score and debit playing cards to the Apple Pockets.

WATCH: Consumer watchdog agency investigating fintech apps after PayPal reverses controversial user policy

Consumer watchdog agency investigating fintech apps after PayPal reverses controversial user policy



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