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Why PayPal Stock Tanked Friday Morning

TheMotleyFool

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Shares of PayPal Holding (NASDAQ: PYPL) slumped out of the gate on Friday, falling by as much as 7%. As of 1:33 p.m. ET, the stock was still down 5.3%.

The catalyst that sent the fintech company's shares tumbling was its third-quarter financial report. While some metrics were better than expected, management's outlook left investors wanting more.

For the third quarter, PayPal reported net revenue of $6.85 billion, up 11% year over year and up 12% on a constant-currency basis. However, adjusted earnings per share declined by 2% to $1.08. To put this in context, analysts' consensus estimates had forecast revenue of $6.8 billion and earnings per share of $0.97, so PayPal cleared both bars with ease.

Source Fool.com

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