PayPal experienced a global outage that affected multiple products for about two hours Thursday (Nov. 21). The incident lasted from 10:53 UTC to 12:59 UTC Thursday, the company said on its status page.
San Jose-based tech giant said that the outage "may be affecting multiple products in our Production environment."
Payments firm PayPal is facing a system issue that may be affecting multiple products, it said on Thursday.
PayPal will begin letting its disbursement partners use PayPal USD to settle cross-border money transfers. The new service is offered through PayPal's Xoom cross-border payments business, according to a Tuesday (Nov. 19) press release.
Andy Swan with @LikeFolio says the fintech company made a notable comeback after it faded alongside other tech staples of its era. He credits the company's leadership for making decisions that leave a "clear sky" for a bigger comeback.
Paypal (PYPL) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Shares of the fintech enterprise have surged in the past few months.
Despite mixed 3Q FY2024 earnings, PayPal's stock rebounded, likely due to a broader market rally fueled by expected fintech deregulation under Trump's administration. 3Q revenue missed estimates due to weak unbranded volume from Braintree and a lower transaction take rate, with YoY earnings growth expected to be negative in 4Q. While transaction margin dollars YoY growth accelerated in 3Q, the company expects similar momentum in FY2025, with modest headwind anticipated from the rate-cut cycle.
Although PYPL's cheap valuation is noteworthy, lower Braintree volume and revenue growth in the near term, as well as higher expenses, are headwinds.
PayPal's latest results show that management's efficiency efforts are paying off.
PayPal stock price rally has stalled even as American equities surged and the company published strong financial results. The PYPL share price jumped to $81.35 on Thursday, a few points below the year-to-date high of $83.71.
PYPL's technical target is revised to $96 by year-end, supported by recent earnings momentum and alignment with key Fibonacci levels. PayPal's transaction volume grew by 1.47 billion from Q1 2022 to Q3 2024, showing stable user growth and engagement. EPS increased 146% from Q1 2022 to Q3 2024, reflecting effective cost management and improved profitability margins.