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PayPal exceeds expectations in Q4 but shares fall on flat profit outlook

Published 02/08/2024, 05:28 AM
Updated 02/08/2024, 05:28 AM
© Reuters

PayPal (NASDAQ:PYPL) unveiled better-than-expected Q4 earnings and revenue but shares fell 2% in after-hours trading due to a flat profit forecast.

For Q4, the financial services giant posted earnings per share (EPS) of $1.48, topping the estimated $1.36. The company's revenue for the quarter reached $8 billion, surpassing the consensus forecast of $7.88 billion.

The total payment volume for the quarter was reported at $409.83 billion, marking a 15% year-over-year increase and above the projection of $403.6 billion.

Transaction revenue grew by 8.7% YoY to $7.28 billion, compared to the estimated $7.1 billion.

However, active customer accounts slightly declined by 2.1% YoY to 426 million, just below the forecasted 427.98 million.

Payment transactions saw a 13% YoY increase to 6.80 billion, outperforming the consensus estimate of 6.60 billion.

Looking forward, PayPal has provided guidance for the full year 2024, projecting an EPS of $5.10, aligning exactly with analysts’ expectations.

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