By Allison Prang

 

PayPal Holdings Inc. raised its outlook for this year.

For 2021, PayPal is expecting about $25.75 billion in revenue. When the company logged its results for the fourth quarter, it said it was expecting about $25.5 billion in revenue for this year. According to FactSet, analysts are expecting $25.71 billion in revenue.

The company is guiding for about $3.33 a share in earnings, instead of about $3.20 a share, and expects about $4.70 a share in adjusted earnings or for those to grow about 21% year over year instead of about 17%. According to FactSet, analysts are expecting adjusted earnings of $4.57 a share.

The company expects between 52 million and 55 million net new active accounts. It had been expecting about 50 million.

PayPal is expecting total payment volume to rise by about 30%. It was guiding for it rise by a high 20s percentage.

For the second quarter, PayPal expects about $6.25 billion in revenue and about $1.12 a share in adjusted earnings. Analysts were expecting $6.17 billion in revenue and $1.10 a share in adjusted earnings. For second-quarter earnings, the company expects about 76 cents a share.

 

Write to Allison Prang at allison.prang@wsj.com

 

(END) Dow Jones Newswires

May 05, 2021 16:40 ET (20:40 GMT)

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