PayPal Q3 Earnings News: PYPL reports mixed Q3, but Q4 forecast sends stock lower
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UNLOCK OFFERUPDATE: PayPal executives' forecast for the fourth quarter sent PYPL stock down 5% in the afterhours trade after it was initially up upon the release of Q3 figures. PayPal is now expecting between $6.85 billion and $6.95 billion in Q4 revenue and $1.12 in adjusted EPS. FactSet's poll of analysts had forecasted $7.24 billion in revenue and adjusted EPS of $1.28. The afterhours trade ended with PYPL down about 5% at $117.95.
PayPal (PYPL) shares bounded higher after the payments and fintech leader reported non-GAAP Q3 earnings per share (EPS) of $1.11 on revenue of $6.18 billion after Monday's market close. Wall Street consensus had expected $1.08 per share on revenue of $6.24 billion. PYPL stock ended Monday's regular session up 1.6% at $229.42 but launched up 4.6% in the immediate afterhours trade to just above $240 on the print.
Wall Street analysts have a hard Buy rating on the stock with the average price target at $325.93, 42% above Monday's close.
$PYPL should be interesting AH. 2M shares bought between 4PM-4:05PM.
— Wayne (@wyv_123) November 8, 2021
$PYPL should be interesting AH. 2M shares bought between 4PM-4:05PM.
— Wayne (@wyv_123) November 8, 2021
UPDATE: PayPal executives' forecast for the fourth quarter sent PYPL stock down 5% in the afterhours trade after it was initially up upon the release of Q3 figures. PayPal is now expecting between $6.85 billion and $6.95 billion in Q4 revenue and $1.12 in adjusted EPS. FactSet's poll of analysts had forecasted $7.24 billion in revenue and adjusted EPS of $1.28. The afterhours trade ended with PYPL down about 5% at $117.95.
PayPal (PYPL) shares bounded higher after the payments and fintech leader reported non-GAAP Q3 earnings per share (EPS) of $1.11 on revenue of $6.18 billion after Monday's market close. Wall Street consensus had expected $1.08 per share on revenue of $6.24 billion. PYPL stock ended Monday's regular session up 1.6% at $229.42 but launched up 4.6% in the immediate afterhours trade to just above $240 on the print.
Wall Street analysts have a hard Buy rating on the stock with the average price target at $325.93, 42% above Monday's close.
$PYPL should be interesting AH. 2M shares bought between 4PM-4:05PM.
— Wayne (@wyv_123) November 8, 2021
$PYPL should be interesting AH. 2M shares bought between 4PM-4:05PM.
— Wayne (@wyv_123) November 8, 2021
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