The company beat its estimations with its revenue and earnings in Q4 FY23.
However, its guidance for 2024 came lower than street expectations.
PayPal (Nasdaq: PYPL) ended the fourth quarter of 2024 with per-share adjusted earnings of $1.48, beating the estimations of $1.36 by the analysts at LSEG (formerly Refinitiv). Its net quarterly revenue came in 9 percent more at $8.03 billion, higher than the street expectation of $7.87 billion.
Solid Growth in Q4
The net income of the California-headquartered company between October and December jumped 52 percent to $1.4 billion, which can be translated to $1.29 per share. Its net income was $921 million or $0.81 per share in the corresponding quarter a year before.
The company handled a total payment volume of $409.8 billion for the quarter, an increase of 15 percent from the previous year. Its operating margin also improved to 21.5 percent from 16.8 percent.
“I’m pleased with our better-than-expected fourth-quarter results,” PayPal’s CEO and President, Alex Chriss, said.
2024 Guidance Miss
However, PayPal's projections for the ongoing financial year fall below anticipated levels. For the first quarter of 2024, the payment company forecasts mid-single-digit growth in year-over-year earnings per share, contrasting with analysts’ consensus expectation of 8.7 percent. For the full year, it anticipates $5.10 per share earnings, lower than the street expectation of $5.48.
This deviation from expectations led to an 8 percent decline in PayPal's publicly traded share price during after-hours trading.
Although established as a payments company, PayPal has expanded significantly over the years and now has a presence even in cryptocurrencies, among other areas. The company introduced a new artificial intelligence feature last month, which, according to the CEO, was the start of the “next chapter.”
Meanwhile, the company recently decided to cut 9 percent of its workforce, about 2,500 positions.
“We're driving significant transformation across our company and are committed to making the necessary changes to our business to drive profitable growth in the years ahead,” Chriss added. “2024 is a year focused on execution to position PayPal for long-term success.”
PayPal (Nasdaq: PYPL) ended the fourth quarter of 2024 with per-share adjusted earnings of $1.48, beating the estimations of $1.36 by the analysts at LSEG (formerly Refinitiv). Its net quarterly revenue came in 9 percent more at $8.03 billion, higher than the street expectation of $7.87 billion.
Solid Growth in Q4
The net income of the California-headquartered company between October and December jumped 52 percent to $1.4 billion, which can be translated to $1.29 per share. Its net income was $921 million or $0.81 per share in the corresponding quarter a year before.
The company handled a total payment volume of $409.8 billion for the quarter, an increase of 15 percent from the previous year. Its operating margin also improved to 21.5 percent from 16.8 percent.
“I’m pleased with our better-than-expected fourth-quarter results,” PayPal’s CEO and President, Alex Chriss, said.
2024 Guidance Miss
However, PayPal's projections for the ongoing financial year fall below anticipated levels. For the first quarter of 2024, the payment company forecasts mid-single-digit growth in year-over-year earnings per share, contrasting with analysts’ consensus expectation of 8.7 percent. For the full year, it anticipates $5.10 per share earnings, lower than the street expectation of $5.48.
This deviation from expectations led to an 8 percent decline in PayPal's publicly traded share price during after-hours trading.
Although established as a payments company, PayPal has expanded significantly over the years and now has a presence even in cryptocurrencies, among other areas. The company introduced a new artificial intelligence feature last month, which, according to the CEO, was the start of the “next chapter.”
Meanwhile, the company recently decided to cut 9 percent of its workforce, about 2,500 positions.
“We're driving significant transformation across our company and are committed to making the necessary changes to our business to drive profitable growth in the years ahead,” Chriss added. “2024 is a year focused on execution to position PayPal for long-term success.”
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Adyen and Cover Genius Enhance Payment Security in Insurtech Collaboration
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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