PayPal loses $ 50.574 million in one day

The shares of digital payment company Paypal fell 24.63% on the NASDAQ on Wednesday to $ 132.50 each, erasing $ 50.574 million from its market capitalization value, after predicting that inflation would affect its annual results and revealed that by the end of 2021 million. of illegal accounts prevented him from achieving his financial goals.

PayPal, according to The Wall Street Journal, released a revenue growth forecast below last year, saying it is expected to earn between $ 4.60 and $ 4.75 per share based on its estimate for fiscal 2022 earnings, amounts below analysts’ expectations of $ 5 , 21.

In a call with analysts and investors, John Rainey, the company’s chief financial officer, said the Omicron variant of the coronavirus, inflationary pressures and a lack of additional government stimulus packages had hit PayPal’s spending and business.

He added that the impact was greater on low-income customers and continued into the first quarter.

For Monex, PayPal presented an expected report for the fourth quarter of 2021. Its revenue grew by 13.8%, but “in terms of profits, the result was 14.5% below the estimate.”

For the first quarter of 2022, the issuer expects a 6% increase in revenue.

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Reference-www.eleconomista.com.mx

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