Why PayPal Stock Rallied Friday Morning
Shares of PayPal (NASDAQ: PYPL) were decidedly higher Friday, jumping as much as 5.6%. As of 10:45 a.m. ET, the stock was still up 4.5%, despite the market trending lower.
The catalyst that sent fintech specialist higher was the company's financial report, which showed significant progress in its ongoing turnaround.
PayPal ended 2022 on a high note. For the fourth quarter, revenue of $7.4 billion grew 7% year over year, and 9% excluding the impact of foreign currency exchange headwinds. This resulted in adjusted earnings per share (EPS) of $1.24, which climbed 11%.
Source Fool.com
