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PayPal Stock Drops After Earnings Beat Estimates, Guidance Disappoints

PayPal Holdings earnings and revenue beat analyst estimates, but the company gave full-year 2024 guidance that came in well below what Wall Street was expecting. After Wednesday’s close, PayPal Holdings said it earned $1.29 per share in the fourth quarter, based on generally accepted accounting principles, compared with $0.81 in the fourth quarter of 2022 and the $1.18 expected by analysts tracked by FactSet. The earnings included a 25-cent benefit from selling its Happy Returns business to UPS.
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