PayPal Holdings (NASDAQ:PYPL) experienced a 6% increase intra-day today after the company released its third-quarter earnings and provided forward-looking guidance.
The company reported an earnings per share of $1.30 for the third quarter, beating the analyst prediction of $1.23. PayPal’s revenue for the same period was $7.42 billion, marginally higher than the anticipated $7.38 billion.
For the fourth quarter of 2023, PayPal is projecting an earnings per share of $1.36, which is below the Street estimate of $1.41.
Looking at the full fiscal year 2023, PayPal has raised its earnings per share forecast to $4.98, an increase from the previous estimate of $4.95 and higher than the Street estimate of $4.92.