PayPal Holdings Inc (NASDAQ:PYPL) analysts expect the online payments company to make modest year-over-year gains in revenue and earnings per share (EPS) when it reports its third-quarter 2023 financial results after the close on November 1.
The analyst consensus forecast is for 3Q earnings per share (EPS) of $1.22, representing a 13% year-over-year improvement, on revenue that is expected to rise 8% to $7.39 billion, according to Zacks Equity Research.
Over the last two years, PayPal has beaten EPS estimates 75% of the time and has surpassed revenue forecasts 88% of the time.
PayPal stock has been in a downtrend for the past two years and analysts are expecting its newly appointed CEO Alex Chriss to unveil a recovery strategy with a focus on small and medium-sized businesses as well as in-store payments, in which it faces intense competition from Apple Pay.
Shares of PayPal edged 0.5% lower to $51.53 in midday trading on Wednesday and have fallen 31% year to date.
Contact Sean at sean@proactiveinvestors.com