PayPal Holdings on Monday (May 8) cut its outlook for annual adjusted operating margin, overshadowing its profit forecast raise, sending shares in the payments firm down 5 per cent in extending trading. PayPal expects adjusted operating margin expansion of 100 basis points this year, compared with its earl
PayPal Holdings on Monday cut its outlook for annual adjusted operating margin, overshadowing its profit forecast raise, sending shares in the payments firm down 5 per cent in extending trading.
Investors are assuming that the company's branded checkout button, a high margin business, isn't doing as well as people thought it was and the fear is that they're losing market share to Apple, Dan Dolev, analyst at Mizuho told Reuters, explaining the drop in PayPal shares. PayPal payments volume on a forex-neutral basis came in at US$354.5 billion in the first-quarter ended Mar 31, compared with US$357.4 billion in the fourth-quarter ended Dec 31.
Still, the payments heavyweight raised its full-year adjusted profit forecast on the back of stronger-than-expected e-commerce trends and improved margins on cost cuts.
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