PayPal Lowers Annual Sales Forecast, Citing Product Delays

PayPal signage is displayed on an Apple iPhone. — PayPal signage is displayed on an Apple iPhone.
Photographer: Gabby Jones/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Julie Verhage

July 24, 2019 at 8:46 PM UTC

Updated on

July 24, 2019 at 9:13 PM UTC

This article is for subscribers only.

Investors expressed disappointment with PayPal Holdings Inc.’s revenue outlook Wednesday, sending shares tumbling in after-hours trading.

PayPal lowered its forecast for the year, projecting revenue growth of 14% to 15%. The previous range was a percentage point higher. Sales will be as much as $17.8 billion, falling short of analyst estimates of $17.92 billion for the year. The company attributed the change to product delays, pricing changes and currency pressures.