Paypal (PYPL) $70 Pre-Market up 7%.
Maintaining Buy, at this price there’s little downside and Paypal seems to be walking the talk with steady increases in revenue in an overcrowded market. Paypal is a mature company and getting 12-15% a year is pretty good.
Q1 revenue of $7.70B, topping the $7.52B consensus, fell from $8.03B in Q4 2023 and grew from $7.04B in Q1 2023.
Q1 Non-GAAP EPS of $1.40 beats by $0.18.
Guidance
Non-GAAP earnings per diluted share are expected to increase by a mid-to-high single-digit percentage compared to $3.83 (based on the new non-GAAP methodology) in the prior year.2024 is a transition year, righting a ship that had screwed up quite badly for the past three years and I think they should be able to do a decent job.