Market Overview

PayPal Falls On Q2 Sales Miss, Lower Guidance

Share:

PayPal Holdings Inc (NASDAQ: PYPL) shares are dropping after reporting a second-quarter sales miss.

Second-quarter adjusted earnings came in at 86 cents per share, which may not compare to the 73 cent estimate. Sales came in at $4.31 billion, missing estimates by $20 million.

The company also issued 2019 sales guidance below analyst estimates. It now sees sales of $17.6 billion-$17.8 billion versus the $17.99 billion estimate.

"PayPal delivered another solid quarter, and consequently we are raising EPS guidance for the year. Net new active accounts increased by a record 41 million over the last 12 months, and engagement per active account once again increased by 9% to 39 times a year. Venmo's momentum continues, with 70% growth in total payment volume to $24 billion. Earlier this month, Xoom expanded to 32 new send markets throughout Europe," said Dan Schulman, President and CEO of PayPal.

Highlights

  • Revenue increased 12%
  • 9 million net new active accounts
  • 3 billion payment transactions, up 28%
  • Venmo processed $24 billion of TPV, growing 70%

PayPal shares traded lower by 6.1% to $113.95 in Wednesday's after-hour session. The stock closed at $121.30.

Posted-In: Dan Schulman VenmoEarnings News Guidance After-Hours Center Movers Trading Ideas

 

Related Articles (PYPL)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com