Why PayPal Stock Is Tumbling Thursday
Portfolio Pulse from Adam Eckert
PayPal Holdings Inc (NASDAQ:PYPL) reported Q2 results showing a sequential decline in active accounts, leading to a drop in its share price. Despite a YoY revenue increase of 7% to $7.29 billion and quarterly earnings of $1.16 per share, both beating estimates, the company's active accounts fell from 433 million in Q1 to 431 million. Following the results, multiple analysts lowered their price targets for PayPal. The company anticipates Q3 revenue of approximately $7.4 billion and reiterated full-year earnings guidance of approximately $4.95 per share.
August 04, 2023 | 1:27 pm
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PayPal's Q2 results led to a drop in its share price due to a sequential decline in active accounts. Despite beating revenue and earnings estimates, analysts have lowered their price targets for the company.
PayPal's Q2 results showed a sequential decline in active accounts, which is a key performance indicator for the company. This led to a negative market reaction, reflected in the drop in its share price. Despite beating revenue and earnings estimates, the decline in active accounts has led analysts to lower their price targets for the company, indicating a potential negative short-term impact on the stock.
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IMPORTANCE 80
RELEVANCE 100