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PayPal Holdings, Inc. (NASDAQ:PYPL) saw its shares fall more than 10% at Tuesday’s open, even after delivering first-quarter results that topped Wall Street expectations on both revenue and earnings.
Revenue rose 7% to $8.35 billion and adjusted EPS climbed 1%, topping Wall Street estimates, but stock fell after the earnings call
Investing.com -- PayPal Holdings, Inc. (NASDAQ:PYPL) reported first-quarter results that exceeded analyst expectations on both revenue and earnings. The company's shares are up 3.2% premarket.
Shares of PayPal rose Tuesday after the company reported better-than-expected quarterly earnings. The payments giant reported adjusted earnings of $1.34 a share for the first quarter, up from $1.33 a year ago and ahead of analysts’ consensus estimate of $1.27, per FactSet. PayPal stock jumped 3.1% in premarket trading.
PayPal Holdings on Tuesday reported first-quarter earnings and revenue under a new chief executive that topped Wall Street consensus estimates. PayPal stock rose as the company announced a $1.5 billion cost reduction program over the next two to three years. PayPal earnings for Q1 rose 1% to $1.34 per share on an adjusted basis.
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