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Is PayPal (PYPL) A Buy Ahead of Q2 Earnings Announcement?
Digital payments company PayPal (PYPL - Free Report) is set to report second-quarter earnings results on Wednesday after the bell. Owner of the popular PayPal and Venmo payment services, PayPal is a Zacks Rank #3 (Hold) stock. With both sales and earnings estimates projecting significant year-over-year increases, is PYPL a buy?
PayPal is expected to post a profit of $1.16/share, which would reflect substantial growth of 24.73% versus the same quarter last year. Estimates for the quarter have remained steady over the past 60 days. Revenues are projected to rise 6.61% to $7.26 billion.
The company has exceeded the earnings mark in each of the last four quarters, sporting an average earnings beat of 8.2% over this timeframe. PYPL boasts a positive Earnings ESP (Expected Surprise Prediction). Our proprietary Zacks Model is predicting another earnings beat for the payment giant.