2023-11-03 20:20:35
PayPal slides after forecasting lower annual revenue
Channel NewsAsia
By CnaBest News Website or Mobile Service
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:PayPal Holdings Inc lowered annual revenue in anticipation of a broader economic downturn that could affect consumer spending, sending shares of the online payments company down 11 per cent in extended trading on Thursday.
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The forecast of 10 per cent growth in annual revenue on an adjusted basis compared to 11 per cent earlier, echoes Mastercard's warning of fourth-quarter revenue below estimates.
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