Shares of PayPal Holdings Inc (NASDAQ: PYPL) are up 5.0% in extended trading after the fintech company reported better-than-expected revenue for its fiscal first quarter.
What PayPal Holdings Q1 results tell us
Net income printed at $509 million versus the year-ago figure of $1.1 billion.
Per-share earnings of 43 cents were significantly lower than last year’s 92 cents.
Adjusted EPS stood at 88 cents, as per the earnings press release.
At $6.48 billion, revenue climbed 7.5% year-over-year in fiscal Q1.
FactSet consensus was for 88 cents of adjusted EPS on $6.40 billion in revenue.
Total payment volume (TPV) in Q1 went up 13% to $323 billion.
Added 2.4 million net new active accounts in the recent quarter.
PayPal ended Q1 with 429 active accounts in total that was slightly better than 428.4 million that analysts had forecast. The stock is down 55% for the year.
PayPal Holdings future outlook
For the current fiscal quarter, PayPal forecasts a 9.0% increase in net revenue (spot and currency exchange neutral basis). It expects 86 cents of EPS in Q2 versus analysts at a higher $1.12.
The online payments company sees up to 17% growth in TPV this year. Revenue for the full year is expected to go up 11% to 13% on adjusted EPS of up to $3.93 versus $4.60 last year.
Earlier this month, Susquehanna slashed its price target on PayPal stock from $220 to $125.
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