WASHINGTON (dpa-AFX) - Financial technology company PayPal Holdings, Inc. (PYPL), while reporting lower profit in its first quarter despite higher revenues, on Tuesday issued second-quarter outlook, expecting lower earnings. Further, the firm maintained fiscal 2026 guidance.
In the pre-market activity, the shares were gaining around 0.16 percent, trading at $50.47, after closing Monday's regular trading 0.10 percent lower.
Looking ahead for the second quarter, the company projects mid-single digit decline in earnings per share from last year's $1.29 per share, and high-single digit or approximately 9 percent decline in adjusted earnings per share from last year's $1.40.
For the full year 2026, earnings per share is still expected to record mid-single digit decline and adjusted earnings per share to record low-single digit decline to slightly positive, compared to last year's $5.41 and $5.31 per share, respectively.
In the first quarter, PayPal's net income totaled $1.11 billion or $1.21 per share, compared to $1.29 billion or $1.29 per share last year.
Adjusted earnings were $1.23 billion or $1.34 per share for the period, compared to $1.33 billion or $1.33 per share a year ago.
The company's net revenue for the period rose 7.2 percent to $8.35 billion from $7.79 billion last year.
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