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PayPal beats on earnings, revenue, and guidance (PYPL)
PayPal beat on both the top and bottom lines in the third quarter. The company's Q4 adjusted earnings-per-share guidance topped estimates.
Paypal CEO Dan Schulman (C) celebrates with employees during the company's relisting on the Nasdaq in New York.
PayPal's third-quarter earnings beat Wall Street estimates on both the top and bottom lines, and the company raised its full-year adjusted earnings-per-share forecast. Shares were little changed in after-hours trading on Thursday.
The digital-payments company earned an adjusted $0.58 a share on revenue of $3.68 billion, topping the $0.54 and $3.67 billion that analysts surveyed by Bloomberg were expecting.
"PayPal had another excellent quarter," president and CEO Dan Schulman said in the earnings release.
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"New partnerships with American Express and Walmart will increase the value that we can offer to our customers. Our strong balance sheet and cash flow enable us to aggressively invest in innovation and growth, creating sustainable and long-term value for our shareholders."
PayPal sees fourth-quarter adjusted EPS of between $0.65 and $0.67 a share, ahead of the $0.65 that was anticipated. It expects Q4 net revenue of between $4.20 billion and $4.28 billion — its midpoint was better than the $4.22 billion that analysts were looking for.
PayPal shares were up about 5% this year through Thursday.
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BusinessInsider
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