PayPal Raises 2018 Guidance; Announces $10 Bln Stock Buyback - Quick Facts

(RTTNews) - PayPal Holdings, Inc. (PYPL) announced, for 2018, the company expects GAAP earnings per diluted share in the range of $1.44 - $1.51 and non-GAAP earnings per diluted share in the range of $2.32 - $2.35. PayPal expects revenue to grow 17 - 19% at current spot rates and 16 - 18% on an FX-neutral basis, to a range of $15.30 - $15.50 billion.

For the third-quarter, PayPal expects GAAP earnings per share in the range of $0.31 - $0.34 and non-GAAP earnings per share in the range of $0.53 - $0.55. PayPal expects revenue to grow 12% - 13% at current spot rates and 12% - 13% on an FX-neutral basis, to a range of $3.62 - $3.67 billion.

For the second-quarter, non-GAAP EPS was $0.58, an increase of 28%. Revenue growth of 23% to $3.86 billion, or 22% on a foreign currency-neutral (FX-neutral or FXN) basis.

PayPal announced that its board of directors has authorized a new stock repurchase program, under which the company may repurchase up to $10 billion in outstanding common stock. This program will become effective after completion of the company's previously announced $5 billion stock repurchase program, of which $2.7 billion remained available as of June 30, 2018.