- PayPal reports above-consensus earnings/revenues and providing upbeat earnings guidance for 2017.
Payments processing pioneer PayPal Holdings (PYPL) this afternoon reported Q1 revenue and profit that topped analysts’ expectations, and forecast this quarter, and the full year’s, revenue and profit above consensus, and set a new $5 billion buyback plan, sending its shares sharply higher in late trading.
Revenue in the three months ended in March rose to $2.98 billion, yielding EPS of 44 cents, excluding some costs .
Analysts had been modeling $2.938 billion in revenue and 41 cents EPS.
For the current quarter, the company sees revenue in a range of $3.05 billion to $3.1 billion, and EPS of 41 cents to 43 cents. That compares to consensus for $3.069 billion and 41 cents per share.
For the full year, the company sees revenue orn$12.52 billion to $12.72 billion, and EPS of $1.74 to $1.79. That compares to consensus for $12.61 billion and EPS of $1.73.
The new buyback plan replaces an existing one of which “approximately $488 million remained available for stock repurchases.”
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