5 Stocks Making Big Moves on Earnings Reports

2. PayPal Holdings, Inc. (NASDAQ:PYPL)

Number of Hedge Fund Holders: 110

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) turned green in the pre-market trading session on Thursday, April 28, 2022, after the online payments giant announced its first-quarter profit that matched analysts’ expectations.

PayPal Holdings, Inc. (NASDAQ:PYPL) reported adjusted earnings of 88 cents per share, down from $1.22 per share in the year-ago quarter. Revenue increased to $6.5 billion, from $6 billion in the comparable period of 2021. Analysts were looking for earnings of 88 cents per share on revenue of $6.4 billion.

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Among other updates, PayPal Holdings, Inc. (NASDAQ:PYPL) reported that it added 2.4 million new active accounts during the first quarter. Moreover, its total payment volume, a key growth indicator, jumped 13 percent to $323 billion.

For the second quarter, PayPal Holdings, Inc. (NASDAQ:PYPL) guided for adjusted earnings of about 86 cents per share on revenue of approx. $6.8 billion. This compares to the consensus of $1.12 per share for earnings and $7.1 billion for revenue.