PayPal’s Mixed Earnings Disappoint Investors
Oct. 29, 2015
In its first earnings after splitting from parent company eBay, PayPal reported slightly less-than-expected revenue and slightly better-than-expected profits. Investors sold off PayPal stock after the report as shares of the online payment pioneer fell five percent in after-hours trading to $34.87.
The company reported revenue of $2.26 billion, up 15 percent from Q3 last year, but less than the $2.27 billion Wall Street expected. Profits, on the other hand, were up 31 percent to $377 million. The company separated from eBay this summer under pressure from activist investor Carl Ichan.