PayPal Stock Rises On Early 2019 Guidance, Venmo Growth Outlook
Summary
PayPal Holdings ( PYPL ) early outlook for fiscal 2019 has sparked a rally in shares of the online payment processor.PayPal stock shot up 9% in early trading on Friday after the company provided analysts with an upbeat 2019 forecast, though recent acquisitions will dilute earnings a bit.XThe payment processor late Thursday reported third-quarter earnings and revenue that topped expectations."Management increased calendar 2018 guidance while providing an initial outlook for fiscal 2019 that was constructive to our and street expectations," RBC Capital analyst Daniel Perlman said in a note to clients.Analysts expected PayPal to report earnings of 54 cents on sales of $3.66 billion for the period ended Sept. 30.
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Fintech & Banking
applications
Accounting and Taxes
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Fintech Software
Payments Software
Developer Tools
Linked Companies
PayPal
$1B+