Friday, 24 March, 2023

PayPal stock plunges as forecast miss expectations; cuts year outlook

<p>Electronic payments pioneer PayPal reported Q4 revenue that was in line with Wall Street&#39;s expectations, but missed profit projections by a penny, failed to hit its quarterly outlook, and cut its outlook for 2022. PayPal said its payment volume rose by 23% to $339.5B in the December quarter. The report sent PayPal shares down 16% in late trading. Revenue in the three months ended in December rose to $6.9B, yielding a net profit of $1.11 a share, excluding some costs.</p>