The reasons for the sell-off aren't immediately obvious -- but I think we can find a clue in PayPal Holdings' (NASDAQ: PYPL) disastrous earnings release last night. PayPal only "missed earnings" by a penny in last night's fourth-quarter report, and the fintech giant actually beat on revenue, reporting $6.9 billion when Wall Street analysts had only expected $6.86 billion. Specifically, PayPal warned that its adjusted earnings for the current fiscal year could fall as much as $0.65 short of Wall Street's expected $5.25 per share, and revenue, despite growing in the mid-teens, will probably miss the Street's target as well. Read More...
The reasons for the sell-off aren’t immediately obvious — but I think we can find a clue in PayPal Holdings’ (NASDAQ: PYPL) disastrous earnings release last night. PayPal only “missed earnings” by a penny in last night’s fourth-quarter report, and the fintech giant actually beat on revenue, reporting $6.9 billion when Wall Street analysts had only expected $6.86 billion. Specifically, PayPal warned that its adjusted earnings for the current fiscal year could fall as much as $0.65 short of Wall Street’s expected $5.25 per share, and revenue, despite growing in the mid-teens, will probably miss the Street’s target as well.
