Tuesday, April 23, 2024
HomeLaw & PoliticsPayPal's stock on decline, drops over 16 percent

PayPal’s stock on decline, drops over 16 percent

On Tuesday, PayPal shares fell 16.2 percent to USD 147.40 on account of Q4 earnings.

PayPal’s (PYPL) stock dropped over 16 percent after the payments company’s Q4 earnings publication. The earnings narrowly missed analyst expectations and showed slowed sales growth.

  • Total sales increased 13 percent to USD 6.9 billion, in line with analyst projections, according to release, but at a slower pace than the year-ago quarter’s 25 percent increase.
  • PayPal’s adjusted earnings per share for the fourth quarter came in at USD 1.11, barely below the USD 1.12 average forecast from analysts.
  • In the third quarter, PayPal attracted 9.8 million net new active accounts.  However, this was down from 13.3 million in Q3.
  • On a spot and foreign-exchange neutral basis, total payment volume for the quarter was USD 339.5 billion, up 23 percent year over year. Transaction revenue increased to USD 6.4 billion in the fourth quarter, up from USD 5.61 billion in the previous quarter.

PayPal’s crypto “buy, sell, and hold” programme contributes to transaction income, but crypto payments are not included in total payment volume. PayPal revealed in early January that it is considering creating its own virtual currency because its crypto business grows.

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