Market News

PYPL Rides Earnings Win to Modest Gains in After Hours

Shares of PayPal (NASDAQ:PYPL) gained in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $1.24, which beat analysts’ consensus estimate of $1.20 per share. Sales increased by 6.9% year-over-year, with revenue hitting $7.4 billion. This beat analysts’ expectations of $7.39 billion.

PayPal saw total payment volume increase by $17.9 billion, going from $339.5 billion a year ago to $357.4 billion in the fourth quarter. PayPal also cleared over six billion transactions, a jump of 13% over the same time last year.

Looking forward, management now expects revenue for Q1 2023 to be around $6.97 billion. EPS is expected to be in the range of $1.08 – $1.10. For reference, analysts were expecting $7 billion in revenue and $1.07 in EPS. Management also expects EPS for the 2023 fiscal year to reach $4.87, which was adjusted upward by 15% from its original figure. Consensus estimates, meanwhile, expected $4.76.

Overall, Wall Street has a consensus price target of $100.33 on PYPL stock, implying 27.99% upside potential, as indicated by the graphic above.


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