PayPal Says Volume Growth Slowed; CEO Schulman to Retire

Bloomberg2023-02-10

Fourth-quarter payments volume misses analyst expectationsInvestments in platform have been ‘transformative,’ CEO saysDan Schulman. Photographer: Simon Dawson/BloombergPayPal Holdings Inc.’s volume ...

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Comments

kat2177
2023-02-22
kat2177
Great ariticle, would you like to share it?
Tanyl
2023-02-10
Tanyl
Can hold for long term
Vincentan59
2023-02-10
Vincentan59
😵‍💫😵‍💫😤

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Photographer: Simon Dawson/BloombergPayPal Holdings Inc.’s volume ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-02-09/paypal-says-volume-growth-slowed-even-faster-than-expected?srnd=premium\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal Says Volume Growth Slowed; CEO Schulman to Retire</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPayPal Says Volume Growth Slowed; CEO Schulman to Retire\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-10 06:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-02-09/paypal-says-volume-growth-slowed-even-faster-than-expected?srnd=premium><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Fourth-quarter payments volume misses analyst expectationsInvestments in platform have been ‘transformative,’ CEO saysDan Schulman. Photographer: Simon Dawson/BloombergPayPal Holdings Inc.’s volume ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-02-09/paypal-says-volume-growth-slowed-even-faster-than-expected?srnd=premium\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2089284900.SGD","symbol_name":"Allianz Global Sustainability Cl AM Dis H2-SGD","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2023-02-09/paypal-says-volume-growth-slowed-even-faster-than-expected?srnd=premium","article_id":"2310668449","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2310668449","pubTimestamp":1675982117,"columns":[],"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Fourth-quarter payments volume misses analyst expectationsInvestments in platform have been ‘transfo","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4585":"ETF&股票定投概念","BK4106":"数据处理与外包服务","BK4566":"资本集团","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","BK4534":"瑞士信贷持仓","PYPL":"PayPal","BK4554":"元宇宙及AR概念","LU1861217088.USD":"贝莱德金融科技A2","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","BK4535":"淡马锡持仓","BK4551":"寇图资本持仓","BK4524":"宅经济概念","BK4527":"明星科技股","BK4581":"高盛持仓"},"translate_title":"PayPal表示，销量增长放缓；首席执行官舒尔曼退休","themeId":"768868217a8a42b8834d60b34fc824ad","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PYPL":1},"content_text":"Fourth-quarter payments volume misses analyst expectationsInvestments in platform have been ‘transformative,’ CEO saysDan Schulman. Photographer: Simon Dawson/BloombergPayPal Holdings Inc.’s volume growth on its platforms slowed even faster than expected in the final three months of last year, yet another sign that consumer spending continued to stumble even during the normally busy holiday season. The firm also said Chief Executive Officer Dan Schulman plans to retire at year-end.Total payments volume climbed 9% to $357.4 billion, missing the $365.4 billion average estimate of 23 analysts compiled by Bloomberg. Still, the company has set its sights on trimming costs and said adjusted profit for the year would climb 18% to $4.87 a share, exceeding the $4.75 analysts currently expect.“2022 was a transformative year for PayPal,” Schulman said in a statement announcing fourth-quarter results. “We invested in our platform to better serve our customers, while focusing and streamlining our business. We will continue this work throughout 2023.”PayPal has spent much of the last year contending with a slowdown in growth in spending on its platforms, as supply-chain shocks crimped e-commerce and consumers dealt with historic levels of inflation. Schulman has vowed to improve operating leverage, or the ability to grow revenue faster than expenses.To that end, the company said earlier this month it would dismiss 2,000 employees, or about 7% of its workforce. On Thursday, PayPal said it would record $100 million in charges tied to that restructuring in the current quarter.PayPal shares fell 1.6% to $78.42 Thursday in regular New York trading before the announcement. They have gained 10% this year.The shares dropped more than 3% in extended trading.Schulman, 65, joined the company in 2014. He’ll remain on the board and will help ensure “a smooth leadership transition” during a search for the next CEO, the company said in a separate statement.The company’s results mirror that of Visa Inc. and Mastercard Inc., which both saw purchase volumes on their cards climb less than expected in the final three months of the year.In all, PayPal’s revenue for the fourth quarter climbed 9% to $7.4 billion, in line with the average of 42 analyst estimates compiled by Bloomberg. Expenses climbed to $6.14 billion, below expectations.“Our 2022 results demonstrate the ongoing progress we are making to optimize our cost structure while continuing to invest in our high-conviction initiatives,” Gabrielle Rabinovitch, PayPal’s acting chief financial officer, said in the statement.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9957387199,"gmtCreate":1677016977112,"gmtModify":1677016981412,"author":{"id":"4140093608273032","authorId":"4140093608273032","name":"kat2177","avatar":"https://community-static.tradeup.com/news/3fec8a6d8b9029c35baeca929c87dc64","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4140093608273032","authorIdStr":"4140093608273032"},"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957387199","repostId":2310668449,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9954394143,"gmtCreate":1675986766483,"gmtModify":1675986770084,"author":{"id":"4087109808120260","authorId":"4087109808120260","name":"Tanyl","avatar":"https://static.tigerbbs.com/174329973340cf0f5b68791ee5b08afd","vip":1,"crmLevel":9,"crmLevelSwitch":1,"idStr":"4087109808120260","authorIdStr":"4087109808120260"},"htmlText":"Can hold for long term","listText":"Can hold for long term","text":"Can hold for long term","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954394143","repostId":2310668449,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9954395780,"gmtCreate":1675986721040,"gmtModify":1675986725469,"author":{"id":"4098866635611070","authorId":"4098866635611070","name":"Vincentan59","avatar":"https://community-static.tradeup.com/news/a5c91735e742c607283b7643b505c8e4","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":2,"crmLevelSwitch":1,"idStr":"4098866635611070","authorIdStr":"4098866635611070"},"htmlText":"😵‍💫😵‍💫😤","listText":"😵‍💫😵‍💫😤","text":"😵‍💫😵‍💫😤","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954395780","repostId":2310668449,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":85,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2310668449"}