NEW YORK: PayPal Holdings raised its forecast for full-year adjusted profit above Wall Street estimates on Wednesday (Nov 1), with executives striking...
Consumer spending has held up remarkably well this year, keeping the outlook for PayPal bright going into the holidays. – Reuterspic
It earned US$1.30 per share on an adjusted basis in the quarter, beating expectations of $1.23 per share. Separately, it also named Jamie Miller as chief financial officer effective Nov 6, replacing acting finance chief Gabrielle Rabinovitch. Analysts, however, remain focused on PayPal’s margins that have underwhelmed investors in recent quarters. The company’s low-margin business products have grown strongly, while growth in its branded products has slowed due to increased pressure from competitors such as Apple.
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