PayPal Holdings Inc on Tuesday forecast first-quarter revenue and profit well below expectations, as it prepares to take a hit from eBay Inc's ongoing move to ditch its payments services, sending its shares down 17.4%.
PayPal's operating agreement with eBay has ended and the online marketplace's transition to its own payments platform is impacting transaction volumes.
After spending more than a decade under eBay's fold, PayPal was spun out of the e-commerce marketplace operator in 2015. "Many of these stocks have been pushed up for years and have had very high valuations, so once they start to show cracks investors bail." PayPal processed a total of $340 billion in payments in the quarter, up 23% from a year earlier, while its peer-to-peer payment service Venmo processed a total of about $61 billion in payments.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Cramer's lightning round: Corning Inc. can still go higher'Mad Money' host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.
Lire la suite »
PayPal Shares Slump as Revenue Growth Slows.PayPal shares slumped as the payment giant’s revenue growth slowed significantly in the fourth quarter. By NelWang
Lire la suite »
Crypto Unicorn Amber Group Acquires Japanese Exchange DeCurret Inc..ambergroup_io bought DeCurret’s exchange business to start offering services to Japan, egreechee reports.
Lire la suite »
Casino Expects Decline in French Retail EarningsBy Mauro Orru Casino Guichard-Perrachon SA forecasted a slight decrease in Ebitda for French retail in 2021, after the French food-retail market deteriorated...
Lire la suite »
PayPal Shares Slump as Revenue Growth Slows.PayPal shares slumped as the payment giant’s revenue growth slowed significantly in the fourth quarter. By NelWang
Lire la suite »
Cathie Wood's Ark Invest Buys 2.5 Million Robinhood Shares After Its Crypto Wallet LaunchICYMI: Ark Invest buys a whopping 2,447,100 of Robinhood shares as they plunged 3.1% Bitcoin $HOOD $DOGE
Lire la suite »