PayPal Holdings Inc on Monday cut its outlook for annual adjusted operating margin, overshadowing its profit forecast raise, sending shares in the payments firm down 5% in extending trading.
on Monday cut its outlook for annual adjusted operating margin, overshadowing its profit forecast raise, sending shares in the payments firm down 5% in extending trading.
Investors are assuming that the company's branded checkout button, a high margin business, isn't doing as well as people thought it was and the fear is that they're losing market share to Apple, Dan Dolev, analyst at Mizuho told Reuters, explaining the drop in PayPal shares. PayPal payments volume on a forex-neutral basis came in at $354.5 billion in the first-quarter ended March 31, compared with $357.4 billion in the fourth-quarter ended Dec. 31.that inflation was impacting discretionary consumer spending.
It now expects adjusted profit growth of about 20% to $4.95 per share, above analysts' average estimate of $4.88 per share,PayPal's revenue rose 10% on a forex-neutral basis to $7.04 billion in the first-quarter.
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