PayPal Stock Plummets Despite Beating Q4 Earnings Expectations

PayPal Holdings, Inc. reported 9% revenue growth in Q4 2023, reaching $410 billion in total payment volume, with a 19% increase in non-GAAP earnings per share. The company announced a 9% reduction in its global workforce and emphasized the importance of a diverse and experienced leadership team. Strategic priorities for 2024 include accelerating growth in branded checkout, improving profitability, leveraging data, and operating more efficiently. The company aims to reshape its business for long-term success and has outlined five operating principles to guide its decisions. PayPal also plans to focus on accelerating growth for small businesses and deepening relationships with consumers through personalized experiences and rewards.