PayPal (PYPL) Stock Flat Following Q3 Beat, Disappointing Q4 Guidance and Deal to Add Venmo at Amazon Checkouts

PayPal (NASDAQ: PYPL) shares traded flat after it reported its Q3 results, with EPS coming in at $1.11, beating the consensus estimate of $1.07. Quarterly revenue grew around 13% to $6.18 billion, compared to the consensus estimate of $6.23 billion. Total Payment Volume (TPV) in Q3 reached $310 billion (up 26% year-over-year) with 416 million active accounts.

The company provided its Q4 outlook, expecting an EPS of $1.12, below the consensus estimate of $1.27, and revenue of $6.85-6.95 billion, compared to the consensus estimate of $7.24 billion.

According to Dan Schulman, the President and CEO of the company, they are thrilled to team up with Amazon to enable customers in the U.S. to pay with Venmo at checkout. The service will be available next year.

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