(Boursier.com) — PayPal fell 8% after trading on Wall Street last night. It must be said that the group’s forecasts were timid on the sidelines of the announcement of the quarterly accounts. Profits should therefore be stable this year, while the payment services giant continues its expense reductions. American fintech posted payment volumes in the fourth fiscal quarter that grew by 15% to around $410 billion, compared to a consensus of $404 billion. Revenue rose 9% to more than $8 billion. Quarterly adjusted earnings per share were $1.48, versus $1.36 consensus. For the 2024 financial year, this adjusted EPS is expected at $5.10, with no change compared to last year. The San Jose group announced last month its intention to cut around 9% of the workforce in order to restore profitability. Management also announced last night a share buyback program involving at least $5 billion this year.
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