At press time, the stock was down more than 9% to $57.44
Zhitong Finance learned that on Thursday, Paypal (PYPL.US) stock price fell. At one point, it fell nearly 10%, the biggest drop since August last year. As of press release, the stock was down more than 9% to $57.44. Yesterday, PayPal announced fourth quarter 2023 results. According to the data, the company's Q4 net revenue was US$8.03 billion, up 8.7% year over year, better than market expectations; adjusted earnings per share were US$1.48, higher than market expectations of US$1.36.
Total payments increased 15% in the fourth quarter to US$409.8 billion, exceeding market expectations of US$403.6 billion. PayPal said it expects adjusted earnings per share for the full year 2024 of $5.10, the same as the same period last year as the company continues to work to cut costs and streamline operations. The average analyst forecast was $5.53.