Published on 29 Apr 2024 on Zacks via Yahoo Finance

Should You Consider PayPal (PYPL) Ahead of Q1 Earnings?

PayPal Holdings, Inc. PYPL is slated to report first-quarter 2024 results on Apr 30.The company’s portfolio strength has been helping it maintain a deep and trusted relationship with merchants and consumers. Its two-sided platform helps develop direct financial relationships with customers and merchants.Increasing user engagements on PayPal’s platform, owing to a continuous shift in customer preference toward contactless payments, have been acting as a tailwind.Strong monetization efforts of Venmo are likely to have aided its adoption rate in the to-be-reported quarter. It is likely to have driven growth in the Total Payments Volume (TPV) of the company. One Touch’s growing momentum across merchants on the heels of its robust mobile checkout services is expected to have driven growth in PayPal’s mobile TPV in the first quarter.PYPL’s strengthening cryptocurrency efforts, along with the integration with Venmo and the expanding global footprint of its cryptocurrency service, are expected to have aided.The growing momentum of the company’s buy now pay later (“BNPL”) solution is anticipated to have driven its quarterly performance.Advancing PayPal’s Checkout experiences are expected to have sustained the company’s momentum in the to-be-reported quarter.However, factors like intensifying competition in the digital payment market, macro headwinds that are hurting consumer spending, and tough comparisons with large volumes of digital payments during the pandemic are expected to have been major concerns for PayPal’s active accounts number.

PayPal Holdings, Inc. Price and EPS Surprise