Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
PayPal
Stock Market

Fintech PayPal managed to boost its quarterly results

06.10.2022
2 min read

PayPal has improved its results after falling at the beginning of the year

PayPal presented the report for the last quarter of this year, which was extremely successful for the company. The data were higher than analysts had previously predicted, and investors have already reacted to the positive news.
It should be noted that the good results were especially gratifying against the background of the first quarter when PayPal’s shares fell by 52.5%. In the last period, the value of the securities rose 25.5%, and after the report was published in the postmarket, the figure rose another 11%.
Earnings per share were $0.93, against expectations of $0.86. Overall, fintech revenues rose to $6.81 billion, which also exceeded forecasts. According to the latest data, the number of active users of PayPal is 429 million people, an increase of 6% over the year. However, earlier analysts had expected figures of almost 433 million people.Fintech PayPalAnother positive news from the company was its cooperation with the investment firm Elliott Management. The latter acquired a $2 billion stake in PayPal, making it the largest investor. In turn, Elliott promises to fully support fintech and is focused on long-term cooperation.
In addition, there are some personnel changes in PayPal. The post of Chief Financial Officer Blake Jorgensen, who previously held a similar position at Electronic Arts. The former fintech director resigned at the beginning of this year.
According to the new strategy, PayPal intends to reduce costs by about $900 million. The company said the move will save about $1.3 billion next year. Based on the results of the quarterly report, PayPal raised its earnings forecast: it is expected that by the end of 2022, earnings per share will be from $3.87 to $3.97. At the same time, analysts at Wall Street forecast about $3.82 per share.
PayPal also intends to implement a new $15 billion buyback strategy. This program will go into effect when the $10 billion buyback is completed, which is valid for 4 years.
According to fintech representatives, the company is now undergoing a comprehensive transformation, which will help restore the growth dynamics that were observed several years ago.
Market experts reacted positively to the news from PayPal, believing that it will increase investor confidence in the company. They believe that at the moment the best solution would be to implement a buyback program. It is necessary because the underlying value of fintech has been seriously overvalued, and now it is important to return funds to shareholders.

Tags: Stock Market
0
Previous Post Swiss refiners refuse to recognize illegal gold shipments from Amazonia Next Post What business tasks are solved by chatbots: an overview of an AI-based solution

You Might Also Like

The number of private investors
Stock Market
The U.S. stock market has a record number of private investors
03.04.2022
cheap stocks
Stock Market
Cheap stocks: which sectors a trader should pay attention to
02.12.2022
australian bank ANZ
Stock Market
Australian bank ANZ plans share buyback
14.07.2024
Major global companies
Stock Market
The world’s major companies showed record growth dynamics of capitalization
22.02.2022
Talkspace
Stock Market
The Talkspace app has struck a deal with Hudson Executive Investment Corp.
25.10.2021
crypto industry has seen an increase in cybercrime
Stock Market
The Crypto industry records record growth in cybercrimes
02.07.2022

Popular Posts

  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics