PayPal Beats Profit Forecast, Eyes Growth Under New Leadership
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PayPal raised its forecast for full-year adjusted profit above Wall Street estimates, with optimism about long-term growth strategy.
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New CEO Alex Chriss said opportunities exist to accelerate revenue growth and reduce expenses.
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PayPal named Jamie Miller as new CFO, replacing acting finance chief Gabrielle Rabinovitch.
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PayPal expects adjusted profit for 2022 to be about $4.98 per share, up from $4.95 earlier.
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PayPal's revenue rose 9% to $7.4 billion in Q3 2022, while total payments volume increased 13%.
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