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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| PayPal Holdings Inc | NASDAQ:PYPL | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.86 | -2.81% | 64.065 | 64.06 | 64.07 | 65.70 | 63.8404 | 65.46 | 7,838,082 | 20:42:11 |
From May 2019 to May 2024
By Allison Prang
PayPal Holdings Inc. said it is withdrawing its 2020 guidance for revenue and profit and it expects second-quarter earnings per share to fall by at least 28%.
In March, the deteriorating environment resulting from Covid-19 impacted PayPal's business. However, PayPal cited accelerating business trends in April for its second-quarter outlook.
The fintech company expects EPS to be 28% to 34% lower year over year in the second quarter. It expects adjusted EPS to rise between 15% and 20%.
Both of those expected ranges "exclude the impact of incremental credit loss reserves due to macroeconomic projections," PayPal said.
PayPal expects about a 13% bump in revenue this quarter, based on current spot rates. On a foreign-currency neutral basis, it expects revenue to increase by about 15%.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
May 06, 2020 17:09 ET (21:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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