PayPal Holdings Inc. has been a polarizing stock lately, and that looks to be continuing in the wake of the company's most recent earnings report Read More...
Reuters
PayPal’s spending warning casts pall over upbeat forecast
PayPal Holdings Inc forecast full-year profit above Wall Street estimates on Thursday but warned of pressure on discretionary spending, and said Chief Executive Dan Schulman will retire at the end of 2023. Macroeconomic pressures have begun to hurt American consumers, particularly those in the lower income bracket, but PayPal’s customers continue to spend largely undeterred by decades-high inflation. Even so, the company’s upbeat forecast comes alongside its previously announced commitment of lowering expenses in the backdrop of its key e-commerce segment feeling the pinch of a slowdown.
