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A sign is displayed outside PayPal’s headquarters in San Jose, California.
Justin Sullivan / Getty Images
Pay Pal
The stock fell after the payments company beat second-quarter earnings guidance, but offered below-consensus guidance.
PayPal reported adjusted earnings of $ 1.15 per share, beating $ 1.13 forecast on sales of $ 6.24 billion, missing analysts’ estimates of $ 6.27 billion. PayPal also said it would earn $ 1.07 per share in the third quarter, below estimates of $ 1.14, while sales forecasts of $ 6.15 billion to $ 6.25 billion were lower than expected. $ 6.43.
“The third quarter outlook will guide the narrative, with revenue guided about 3.5% below Street Est estimates. and EPS ~ 6% below, ”writes Jefferies analyst Trevor Williams.
PayPal highlighted the impact of
eBay
the shift from to a “managed payments” system as a source of slower growth. POS growth was 40% with eBay, 48% without exit, while sales increased 32% without eBay compared to 19% with.
Yet that was not enough for the stock market. Shares of PayPal were down 5.8% to $ 284.50 by 4:58 p.m. in after-hours trading.
Write to Ben Levisohn at [email protected]
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