PayPal kicked off 2022 with an outlook cut. The company will look to start 2023 on better footing when it posts earnings Thursday afternoon.
PayPal Holdings Inc. kicked off 2022 with an outlook cut, which turned out to be a theme for the year. The company will look to start 2023 on better footing when it posts earnings Thursday afternoon.
While PayPal cut its forecast last year due to broader economic issues, some analysts have floated more PayPal-specific concerns in recent months. Namely, they’re worried about the strength of PayPal’s branded online checkout business as third-party data indicate that Apple Inc.’s AAPL Apple Pay and others are gaining steam.
Bernstein analyst Harshita Rawat said she thinks that PayPal is likely to “modestly” miss consensus expectations with its 2023 revenue forecast, though she nonetheless sees a “positive” setup for the company ahead of its report. She also expected that “at the very least,” PayPal will stick to its expectations for $4.70 in 2023 adjusted earnings per share and 100 basis points or more of margin expansion. Additionally, the company could suggest that forecast is conservative.
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