PayPal (PYPL)

[winston]

not vested

PayPal on Tuesday raised its forecast for full-year adjusted profit for the second time, betting on resilient consumer spending in the back-to-school and upcoming holiday shopping seasons, while cost-cutting measures improved margins.

Total payment volumes increased 11%, to $416.81 billion in the second quarter, while net revenue climbed 9%, to $7.89 billion on an FX-neutral basis.

PayPal’s operating margins expanded 231 basis points on an adjusted basis, to 18.5% in the quarter.

PayPal now expects adjusted profit growth in a “low to mid-teens percentage” in 2024, compared with its April forecast of a “mid-to-high single-digit” increase

Source: Phillips

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