Paypal (PYPL) Stock Declines Despite Earnings, Revenue Beat

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Paypal (NASDAQ:PYPL) posted its latest quarterly earnings results late in the day Wednesday, topping analysts’ expectations on its earnings and revenue but shares declined after hours.

Paypal earningsThe payment services company amassed earnings of 58 cents per share on an adjusted basis for its second quarter of fiscal 2018, which was better than the 57 cents per share that analysts were calling for, according to data compiled by a survey from Thomson Reuters.

PayPal also impressed on the revenue front as the company raked in sales of $3.86 billion for its third quarter. Wall Street was projecting revenue of $3.81 billion in its consensus estimate, according to data from Thomson Reuters.

For its third quarter of fiscal 2018, the company projects that its earnings will be in line with what analysts are calling for, while its revenue is below the Wall Street forecast. PayPal said it sees adjusted earnings as being in the range of 53 cents to 55 cents per share, compared to the 54 cents per share that analysts are calling for, per Thomson Reuters.

The payment services provider sees revenue in the range of $3.62 billion and $3.67 billion, below the $3.71 billion that analysts polled by Thomson Reuters predict. Paypal also updated its full-year guidance as it now sees adjusted earnings in the range of $2.32 to $2.35 per share, ahead of its previous guidance of $2.31 to $2.34 per share.

PYPL stock was down about 4.2% after the bell on Wednesday as the company posted its latest quarterly earnings results. Shares were down a fraction of a percentage during regular trading hours.


Article printed from InvestorPlace Media, https://investorplace.com/2018/07/paypal-earnings-pypl-stock/.

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