PayPal Holdings (PYPL.O) raised its forecast for full-year adjusted profit above Wall Street estimates on Wednesday, as the payments giant banks on resilient consumer spending trends during the key holiday shopping season.
A smartphone with the PayPal logo is placed on a laptop in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration/File Photoraised its forecast for full-year adjusted profit above Wall Street estimates on Wednesday, as the payments giant banks on resilient consumer spending trends during the key holiday shopping season.
Online sales during the U.S. holiday season, which includes some of the biggest shopping days such as Cyber Monday, Thanksgiving and Black Friday, are expected to rise 4.8% from a year earlier, a PayPal cut its annual forecast of adjusted operating margin expansion to 75 basis points from 100 basis points expected earlier. Adjusted operating margin was 22.2% in the third quarter.
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