Benzinga
  • 2 months ago
PayPal Holdings Inc. shares dropped more than 5% Tuesday, marking the largest decline nearly nine months after the company forecasted lower-than-expected revenue growth for the fourth quarter. PayPal now anticipates revenue to rise in the low single digits, lower than analysts' predictions. The company's third-quarter revenue also fell short of estimates. CEO Alex Chriss attributed the forecast to a price-to-value strategy. Chriss emphasized the shift away from offering free services, which may impact growth in the short term.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02PayPal shares dropped more than 5% Tuesday, marking the largest decline in nearly 9 months
00:07after the company forecasted lower-than-expected revenue growth for the fourth quarter.
00:11PayPal now anticipates revenue to rise in the low single digits, lower than analysts' predictions.
00:17The company's third-quarter revenue also fell short of estimates.
00:20CEO Alex Criss attributed the forecast to a price-to-value strategy.
00:25Criss emphasized the shift away from offering free services,
00:28which may impact growth in the short term.
00:31For all things money, visit Benzinga.com.

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