PayPal (PYPL) Tops Q4 EPS by 8c, Offers Q1 and FY Guidance

PayPal (NASDAQ: PYPL) reported Q4 EPS of $1.08, $0.08 better than the analyst estimate of $1.00. Revenue for the quarter came in at $6.12 billion versus the consensus estimate of $6.09 billion.

• Q1’21 Revenue and Earnings Guidance • PayPal expects revenue to grow ~28% at current spot rates and ~26% on an FXN basis. • PayPal expects GAAP earnings per diluted share of ~$0.70, compared to $0.07 in the prior year period, and for non-GAAP earnings per diluted share to grow ~50%. • In the first quarter of 2020, GAAP EPS included a net unrealized loss of $0.07 on strategic investments, and an approximate $0.22 of negative impact from taxes primarily related to the acquisition of Honey. • In the first quarter of 2020, GAAP and non-GAAP EPS included $0.17 of negative impact from increased credit loss reserves due to macroeconomic projections. • Estimated non-GAAP amounts for the three months ending March 31, 2021 reflect adjustments of approximately $590 million, including estimated stock-based compensation expense and related payroll taxes of approximately $440 million.
• FY’21 Revenue and Earnings Guidance PayPal expects TPV to grow in the high 20’s on a percentage basis. • PayPal expects revenue to grow ~19% at current spot rates and ~17% on an FXN basis, to approximately ~$25.5 billion. • PayPal expects GAAP earnings per diluted share to be ~$3.20, compared to $3.54 in FY’20, and for non-GAAP earnings per diluted share to grow ~17%. • In 2020, GAAP earnings per diluted share included approximately $1.24 of net gains on strategic investments. • Estimated non-GAAP amounts for the twelve months ending December 31, 2021 reflect adjustments of approximately $2.17 billion, including estimated stock-based compensation expense and related payroll taxes of approximately $1.62 billion.

For earnings history and earnings-related data on PayPal (PYPL) click here.

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