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Stock Alert: PayPal Slides On Revenue Guidance

Shares of PayPal Holdings, Inc. (PYPL) are down more than 3% Tuesday morning after lowering full-year revenue forecast. The company's Net New Active Accounts (NNA) also decreased from last quarter.

The company currently sees full-year revenue growth in the range of 21%-22% on foreign currency-neutral basis, marginally lower from 22% increase expected earlier. Analysts polled by Thomson Reuters expect the company to report revenue growth of 20.5%.

PayPal's quarterly Net New Active Accounts were down to 15.2 million from 21.3 million in the last quarter.

However, the company had better-than-expected results in the third quarter.

Net income in the third quarter was $1.021 billion or $0.86 per share compared with $462 million or $0.39 per share in the same quarter a year ago.

Adjusted earnings of $1.07 beat the average estimate of analysts at $1.07 per share.

Revenues increased to $5.459 billion from $4.378 billion in the same quarter a year ago.

PYPL stock is currently trading at $181.26. It has been trading in the range of $82.07- $215.83 in the past 52 weeks.

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