Suche
Mein Konto
PayPal expects profits to decline in 2024
PayPal shares rise: increase in sales and profits expected. Details on current developments and forecasts for 2024. Nasdaq trading at a glance. Discover more at finanzen.net. 🚀 #PayPal #share #sales increase #profit #financial news
PayPal expects profits to decline in 2024
The payment service PayPal predicts a decline in profits this year. Earnings per share are expected to fall from $3.84 last year to $3.65, according to the company statement. Last year, however, PayPal benefited from the sale of Happy Returns to the logistics group UPS. For 2024, the company plans to enter a transition year with strategy initiatives and cost savings. PayPal CEO Alex Chriss sees this year as a period of processing the company's previous acquisitions.
In the first quarter of the current year, PayPal recorded a 14 percent increase in processed transaction volume to almost $404 billion. Group revenue rose 9 percent to $7.7 billion, while net income rose 12 percent to $888 million. This resulted in earnings per share of 18 percent at $0.83.
On the NASDAQ, PayPal's share price rose 1.39 percent to $67.92 in trading on Tuesday. This development reflects the company's good financial results.
PayPal's future will be heavily influenced by strategic initiatives and cost savings, as CEO Alex Chriss emphasizes. Despite the expected decline in profits this year, PayPal delivered positive results in the first quarter, making the company optimistic about the coming quarters.