PayPal Raises 2024 Earnings Forecast, Reports Strong Q1 Performance
PayPal's stock rises as the company surpasses Q1 expectations and lifts its profit outlook for 2024, signaling robust growth despite competitive pressures.
- PayPal reported a significant increase in Q1 earnings, with adjusted EPS rising to $1.08, beating previous estimates.
- The company's total payment volume surged by 14% to $403.9 billion, reflecting strong consumer spending.
- Operating margins improved notably, with a 98 basis point increase year-over-year, reaching 15.2%.
- Amidst a competitive landscape, PayPal has raised its full-year earnings guidance to a mid-to-high single-digit percentage increase.
- Shares of PayPal climbed approximately 11% since the start of 2024, buoyed by positive financial performance and strategic initiatives.
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