Business
PayPal clicks Reset button
A drop in the price of PayPal’s once sky-high stock is harsh, but a reset of expectations could prompt its landing.
PayPal said on Wednesday that supply chain disruptions affecting e-commerce sales, plus the normalization of the mix between in-store and virtual spending, are continuing to plague customers. forecasting of the company’s business. So the company is cutting sharply from its guidance for 2022. That includes net revenue growth about 4 percentage points slower than its previous forecast, which is currently around 11% to 13%. It is also withdrawing its medium-term guidance.