PayPal Holdings Inc on Monday raised its annual profit forecast to above Wall Street estimates, buoyed by its higher quarterly profit as margins improved on cost-cut measures and as consumers undeterred by inflationary pressures keep shopping online.
that have remained largely upbeat about spending volumes on pent-up travel demand and resilient consumer spending.
The company said it now expects full-year adjusted profit to grow about 20% to $4.95 per share, above analysts' average estimate of $4.88 per share, according to Refinitiv IBES data. The company has said in the past that it is focused on lowering expenses with executives cautioning that inflation was impacting discretionary consumer spending.The payments firm said in January it
7% of its workforce, or about 2,000 employees in the backdrop of a high interest rate environment that has exacerbated fears around an upcoming recession.The payments firm earned a profit of $1.17 per share on an adjusted basis in first-quarter, compared with 88 cents last year. PayPal was one of the biggest winners during the COVID pandemic when people locked at home used its platform while shopping online. However, the company's growth slowed through the past year as countries around the world lifted restrictions and macroeconomic conditions deteriorated.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Young Men, Inc. helps boys in Indianapolis 'make better choices'Empowering for excellence — that’s the goal of Young Men, Inc. The program uses military style discipline and life skills workshops to set boys up for success.
Consulte Mais informação »
Big Tech has made earnings look better, but here come Disney and PayPalMuch of the first-quarter earnings blizzard has passed, and the results, overall, haven't been as bad as expected, thanks to Apple, Amazon and Microsoft.
Consulte Mais informação »
Long-Term Bitcoin Holders Add to Their Holdings, Even as Prices RetraceCrypto Markets Analysis: As the longer term bitcoin supply increases, the CoinDesk Bitcoin Trend Indicator (BTI) shows a market in uptrend, despite the recent price declines. GWilliamsJr_CMT reports
Consulte Mais informação »
PayPal earnings top expectations as company boosts profit forecastPayPal generated first-quarter net income of $795 million, or 70 cents a share, compared with $509 million, or 43 cents a share, in the year-earlier period. $PYPL benefited from strong e-commerce spending and cost-savings initiatives:
Consulte Mais informação »
Weather Authority: Monday to be pleasant, sunny day with above-average temperaturesMonday is off to a warm start as this weekend's conditions linger into the week, bringing warmth and plenty of sunshine.
Consulte Mais informação »
Despite new contract offer, Oakland teachers’ strike likely to continue MondayThe teachers union is demanding back-and-forth bargaining for “common good proposals” intended to provide racial and environmental justice to students.
Consulte Mais informação »