Categories AlphaGraphs, Earnings, Finance
PayPal (PYPL) exceeds Q2 targets as COVID-19 results in higher digital payments
Payment service provider PayPal Holdings (NASDAQ: PYPL) reported adjusted EPS of $1.07 on revenue of $5.26 billion for the second quarter of 2020. Based on the strong performance in the quarter, the company also raised its outlook for FY20.
With year-to-date revenue growth of 17%, and 19% FXN (currency neutral basis), PayPal expects FY20 revenue growth to be 20%, and 22% on FXN. GAAP and non=GAAP EPS growth, both are expected to be 25%.
For 3Q20, PayPal expects revenue to grow 23% and 25% on FXN basis. GAAP EPS is estimated to grow 45% and non-GAAP EPS is targeted to grow 25%.
“In the midst of the COVID-19 pandemic, digital payments have become more important and essential than ever. Our record performance in the second quarter — our strongest quarter ever — reaffirms the relevance of PayPal in the unfolding digital future,” said CEO Dan Schulman.
PYPL stock, which hit a new 52-week high ($185.44) today, rose about 2% in the after-hours session.
Most Popular
Important takeaways from Conagra Brands’ Q3 2025 report
Conagra Brands, Inc. (NYSE: CAG) has reported weaker-than-expected revenue and profit for the February quarter, with sales declining across all business segments amid softer demand and persistent supply challenges. The
Main takeaways from Lamb Weston’s (LW) Q3 2025 earnings report
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) jumped 9% on Thursday after the company delivered better-than-expected results for the third quarter of 2025 and reaffirmed its outlook for the
Summary: Tesla (TSLA) reports Q1 2025 production, deliveries
Tesla Inc. (NASDAQ: TSLA) has announced results of vehicle production and deliveries for the first quarter of 2025. The company also provided data on the deployment of energy storage products
