(NASDAQ: PYPL) posted its first-quarter earnings report on April 30. The digital payment leader's revenue grew 9% year over year to $7.7 billion and exceeded analysts' consensus estimate by $180 million. Its adjusted EPS rose 27% to $1.08. But starting this year, the company redefined how it calculates its adjusted EPS. Based on its old definition, its adjusted EPS rose 20% to $1.40 and surpassed the consensus forecast by $0.18 per share.
PayPal's stock rose slightly after that earnings beat, but it quickly gave up those gains and remains down about 8% over the past 12 months. It's also trading nearly 80% below its all-time high from July 2021. Should investors buy PayPal's stock as a turnaround play? Or will it continue to disappoint investors with its lackluster growth rates?
Image source: PayPal.
Source Fool.com