PayPal Shares Up 3% Following Q4 Beat

PayPal (NASDAQ:PYPL) shares gained around 3% on Friday after the company reported its Q4 earnings results, with EPS of $1.24 and revenue of $7.4 billion coming in better than the Street estimates.

The company provided its outlook for Q1/23, expecting a 7.5% net revenue growth and adjusted EPS in the range of $1.08-$1.10, compared to the Street estimate of $1.07. Full-year adjusted EPS is expected to be approximately $4.87, better than the Street estimate of $4.75.

CEO Dan Schulman announced that he will be retiring at the end of the year and the company will be hosting an investment community meeting (not a formal investor day) towards the end of Q2/23 to provide an update on the company’s strategic initiatives.