PayPal Beats Earnings Estimates, Raises Outlook on Strong Consumer Spending

PayPal raised its full-year adjusted profit forecast above Wall Street estimates, buoyed by resilient consumer spending trends.

The company appointed Jamie Miller as its new CFO.

PayPal expects online sales during the U.S. holiday shopping season to increase 4.8% year-over-year.

The company's revenue grew 9% to $7.4 billion in Q3 2022, beating expectations.

PayPal reported adjusted Q3 earnings per share of $1.30, exceeding analyst estimates of $1.23.