2024-02-08 13:01:56 ET
Shares of PayPal Holdings (NASDAQ: PYPL) slumped out of the gate Thursday, falling as much as 11.4%. As of 11:51 a.m. ET, the stock was still down 11.3%.
The catalyst that sent the fintech company lower was its quarterly financial report. While the results edged past expectations, its guidance sent a shiver through investors.
For the fourth quarter, PayPal generated net revenue that climbed 9% to $8 billion. This resulted in adjusted earnings per share (EPS) of $1.48, up 19%.
For further details see:
PayPal Beat Expectations, So Why Did the Stock Crash and Burn Thursday Morning?