PayPal lifts 2024 profit forecast for second time; branded checkout growth outperforms

Quick Summary:

:PayPal on Tuesday raised its forecast for full-year adjusted profit for the second time after its branded checkout business outperformed and eased competition worries, sending its shares up 9 per cent in morning trading.

"If we narrow down into desktop/web which is 40 per cent to 50 per cent of all checkout, we see no degradation in our share over the past four years.

Transaction margin dollars jumped 8 per cent in the quarter, to $3.61 billion, surpassing expectations of a nearly 1 per cent gain.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Analysts Cent Paypal Margin Quarter Checkout Company Second Adjusted Growth Share

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-30 @ 19:03:33 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 510 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 21858002

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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Year Established: 1999

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