PayPal reported revenue growth for the third quarter of 13% on Monday and said it’s teaming up with Amazon to let U.S. customers pay with Venmo at checkout, starting in 2022.
However, after initially rising in extended trading, PayPal shares reversed course and fell 5% after the company issued a revenue forecast for next year that missed analysts’ estimates.
Here’s how the company did versus expectations:
- Earnings per share: $1.11, adjusted, vs. $1.07 expected in a Refinitiv survey of analysts
- Revenue: $6.18 billion vs. $6.23 billion expected
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 