Payment solutions firm PayPal Holdings Inc. (NASDAQ: PYPL) will be releasing its second-quarter report today at 4:25 PM ET. The company’s stock traded lower Wednesday morning ahead of the announcement.
PayPal is expected to deliver mixed results for the June quarter, with market watchers predicting a modest year-over-year decrease in revenues to $6.61 billion. The consensus earnings estimate is $1.06 per share, which represents a 14% year-over-year increase.
The company had a positive start to fiscal 2023, reporting strong revenue and earnings growth for the first quarter. Total payment volumes grew an impressive 10% to $354.5 billion in the first three months of the year. Adjusted earnings climbed 33% annually to $1.17 per share on revenues of $7.04 billion, which is up 9%.
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