Friday, 24 March, 2023

PayPal Shares Dropped Nearly 6 Percent as Company Warned About Bleak Holiday Quarter

<p>As customers cut down on discretionary spending over the holiday season, digital payments giant PayPal Holdings decreased its annual revenue projection, sending shares of the company plunging by almost 6% in morning trade on Friday. Consumers&#39; purchasing power has been impacted by decades-high inflation while simultaneously being threatened by an impending recession. PayPal said lower &amp; middle-income households had started reducing non-essential spending.</p>