PayPal Holdings Inc. (PYPL) reported December-quarter earnings and revenue that beat estimates. Here are the key points:
- PayPal Earnings: $1.48 per share, topping analysts’ estimates of $1.36 per share.
- PayPal Revenue: climbed 9% to $8 billion, beating the expectations of $7.87 billion.
- Total payments volume: Increased 13% to $409.8 billion, above Wall Street expectations.
In Total Payment Volume (TPV) PYPL volume increased by 13% (YoY) to $409.8 billion. Square Total Payment Volume (TPV) increased by 26% to $119.2 billion.
Paypal has now 431 million active users compared to 450 million (estimated) Apple Pay active users and 83 million Square active users.
In terms of global online payments market share Paypal has 4.4%, Apple Pay has a 4.3% market share of US mobile payments while Square has a 2.5% of US mobile payments market share.
However, it’s important to note that while exceeding expectations, PayPal has described 2024 as a “transition year” and predicts flat profit growth. They are facing increased competition from tech giants like Apple and Google, and their margins are under scrutiny by many investors.
PYPL plans to cut 9% of its workforce, or 2,500 employees, in 2024.
Despite the positive earnings report, PayPal’s stock fell 0.74% to $63.24 after the announcement. PYPL stock is 2.98% higher in 2024 and is -19.36% lower in the last 12-month period.
Here you can find the latest Paypal PYPL Stock Price Target and Forecasts.
Nikolas has been involved in the finance industry for over fifteen years spanning across Europe and USA with a depth of knowledge and experience within many aspects of the financial markets. Nikolas gained several years experience with some of the Europe’s leading Brokers, as equity analyst, and trader managing accounts for both Private and Corporate Investors. He enjoys both the fundamental and technical aspects of trading focusing on stock markets and all FX majors. Currently, Nikolas provides analysis and comments to online financial publications. Educational background in Economics (BSc), and Finance (MSc).