WASHINGTON (dpa-AFX) - While reporting financial results for the fourth quarter on Tuesday, PayPal Holdings, Inc. (PYPL) issued an outlook for the first quarter and full year 2022. Shares of the company tanked nearly 16% following the news.
For the full year 2022, the company expects TPV to grow 19%-22% at current spot rates and 21%-23% on an FXN basis. Revenue are expected to grow 15%-17% on a spot and FXN basis, while excluding eBay, revenue are expected to grow 19%-21%. The company expects adjusted earnings of $4.60 to $4.75 per share. Analysts polled by Thomson Reuters currently expect earnings of $5.25 per share and revenue growth of 17.90%
For the first quarter, the company expects revenues to grow about 6% on a spot and FXN basis, and adjusted earnings are expected to be about $0.87 per share. Analysts polled by Thomson Reuters currently expect earnings of $1.16 per share and revenue growth of 11.80%.
PYPL closed Tuesday's trading at $175.80, up $3.86 or 2.24%, on the Nasdaq. The stock, however, slipped $28.05 or 15.96% in the after-hours trade.
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