PayPal (PYPL) Misses Q4 EPS by 1c, Q1 and FY Guidance Misses

PayPal (NASDAQ: PYPL) reported Q4 EPS of $1.11, $0.01 worse than the analyst estimate of $1.12. Revenue for the quarter came in at $6.9 billion versus the consensus estimate of $6.86 billion.

GUIDANCE:

PayPal sees Q1 2022 EPS of $0.87, versus the consensus of $1.16.

• Revenue expected to grow ~6% on a spot and FXN basis
• Revenue excluding eBay expected to grow ~14%
• GAAP earnings per diluted share of ~$0.50, compared to $0.92 in the prior year period, and for non-GAAP earnings per diluted share of ~$0.87, compared to $1.22 in the prior year period • In the first quarter of 2021, GAAP EPS included a net unrealized loss of ~$0.09 on strategic investments
• In the first quarter of 2021, GAAP and non-GAAP EPS included ~$0.06 benefit from credit loss reserve releases
• Estimated non-GAAP amounts for the three months ending March 31, 2022 reflect adjustments of approximately $590 million, including estimated stock-based compensation expense and related payroll taxes of approximately $470 million

PayPal sees FY2022 EPS of $4.60-$4.75, versus the consensus of $5.25.

• TPV expected to grow ~19%-22% at current spot rates and ~21%-23% on an FXN basis
• Revenue expected to grow ~15%-17% on a spot and FXN basis
• Revenue excluding eBay expected to grow ~19%-21%
• GAAP earnings per diluted share expected to be in the range of ~$2.97-$3.15 compared to $3.52 in FY’21, and non-GAAP earnings per diluted share to be in the range of ~$4.60-$4.75, compared to $4.60 in FY’21
• In 2021, GAAP earnings per diluted share included approximately ~$0.06 of net gains on strategic investments
• In 2021, GAAP and non-GAAP EPS included ~$0.21 benefit from credit loss reserve releases
• Estimated non-GAAP amounts for the twelve months ending December 31, 2022 reflect adjustments of approximately $2.4 billion, including estimated stock-based compensation expense and related payroll taxes of approximately $1.9 billion

For earnings history and earnings-related data on PayPal (PYPL) click here.

You May Also Be Interested In

• Baird on Nurix (NRIX) Earnings Amid 7% Drop: '2Q Print Solid as Breadth of Development Expands'
• Raymond James Previews Charles Schwab Corp. (SCHW) Earnings: 'Elevated Trading Volumes Drives Trading Revenue Upside'
• Barclays upgrades CubeSmart, cuts Public Storage on relative valuation