The stock of Paypal, the popular payment service provider for online shopping, has been in a strong downtrend since the summer. Since the high in July, the company’s stock has lost over 25%, falling from over $260 to $195. Among the culprits were the reports of a Pinterest acquisition that emerged and then were denied in recent weeks.
Now, Paypal announced in a press release that it is releasing a new version of its app, improved from the ground up, that will bundle all of the user’s financial applications into one app, making it more straightforward and enjoyable to use. This is said to include the creation of custom fundraising campaigns, a new chat feature for private transactions, and also the ability to make crypto purchases via an integrated wallet. In addition, customers will also have the option to open their own savings account in the future, which promises an annual interest rate of 0.4 percent, as opposed to the U.S. average of 0.06 percent.
The publication of the new sales and earnings figures on Monday, November 8, could also be of great importance for the further share price development. Estimates are for EPS of $1.08, up 0.9% from a year ago. According to the report, revenues are expected to be $6.2 billion, which would be a 14% increase over the same quarter last year. The annual revenue forecast is put at $25.7 billion with annual earnings per share of $4.71.
For more updates, follow us on Twitter:@JRC_Capital