Skip to main content

PayPal forecasts 2020 profit below estimates, shares fall

Paypal profit

PayPal Holdings Inc (PYPL.O) forecast full-year adjusted profit below analysts’ expectations as it invests in technology to fend off competition in a crowded digital payments space, sending its shares down 4%.

To tackle competition, PayPal has also been spending on savvy acquisitions such as its $4 billion purchase of shopping and rewards platform Honey last year, its largest ever.

Total operating expenses surged nearly 15% to $4.16 billion in the fourth quarter.

San Jose, California-based PayPal expects full-year adjusted profit in the range of $3.39 per share and $3.46 per share, below analysts’ expectations of $3.49, according to IBES data from Refinitiv.

Total payment volume (TPV), the dollar value of transactions processed, rose about 21% to $199.40 billion, but came in below analysts’ estimates of $202.7 billion.

The company’s net income fell to $507 million, or 43 cents per share, in the quarter ended Dec. 31, from $584 million, or 49 cents per share, a year earlier.

Stripping out one-time items, the company earned 86 cents per share, beating analysts’ estimate of 83 cents.

Revenue rose 17.4% to $4.96 billion, above analysts’ expectation of $4.94 billion.

The post PayPal forecasts 2020 profit below estimates, shares fall appeared first on ARY NEWS.



from ARY NEWS https://ift.tt/2S3Ufm3
Labels:

Comments

Post a Comment

Popular posts from this blog

Sialkot police bust gang of robbers, seize over Rs20m looted cash

SIALKOT: Police on Tuesday claimed to have busted an infamous gang of robbers and seized Rs20.3 million looted cash from their possession, ARY News reported. A spokesperson for the police confirmed the arrests saying the eight-member gang had looted a pharmaceutical company’s truck full of medicine. He said the looted cash to the tune of Rs20.3 million was also recovered from their possession. The police said the recovered cash and truck have been handed over to their owner. Read More: Youngster battles for life as Punjab police ‘mistakenly’ opens fire on him Earlier, on June 20, Karachi police had apprehended six robbers allegedly involved in a bank robbery of Rs10.5 million last month. The robbers had produced Rs9 million from the bank robbery in front of the police after being taken under arrest. The police also recovered the weapons used by the criminals in the bank robbery. The gang was stated to have a previous record of robbing various places in the city, the police said. ...
Post a Comment
Read more

Peshawar security forces kill four suspected terrorists

The Peshawar Counter-Terrorism Department personnel gunned down four suspected terrorists after raiding their hideout on the Kohat Road Monday. According to the security forces, the suspects were plotting an attack. A cache of weapons and ammunition has been seized too. On Monday evening, a special CTD team raided the hideout after surrounding it and exchanged fire with them. No CTD personnel was injured in the operation. from SAMAA https://ift.tt/2V8MRbn
Post a Comment
Read more

Headlines 9am: Karachi to face power outages, coronavirus cases rise

Here are the headlines from SAMAA TV’s 9am bulletin. Pakistan has begun reporting fewer coronavirus infections in the last couple of days. In the last 24 hours, 3,964 cases were reported with 105 deaths. Around 73,000 recoveries have been confirmed so far. Three people were killed in a collision between a motorcycle and ambulance on the Mehran highway. A child was injured as well. Robbers looted a house in Karachi’s Azizabad in broad daylight and in the presence of a policeman. The cop chased the thieves but they were able to escape. SAMAA TV has acquired a CCTV footage of the robbery. A terrorism bid has been foiled in Peshawar. During a raid, security forces eliminated four terrorists. A cache of weapons and ammunition has been recovered. Saudi Arabia has announced it would hold a “very limited” Hajj this year owing to the coronavirus pandemic, with pilgrims already in the kingdom allowed to take part. The Kingdom has informed Pakistan about it as well. Pakistan’s Religious A...
Post a Comment
Read more