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PayPal issues FY'18 guidance

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PayPal issues FY'18 guidance

PayPal Holdings Inc. has provided financial outlook for the first quarter and full year of 2018.

PayPal expects first-quarter revenue to grow 20% to 22% at current spot rates and 20% to 21% on a foreign exchange-neutral basis, to a range of $3.58 billion to $3.63 billion. The company expects GAAP EPS in the range of 41 cents to 43 cents and non-GAAP EPS in the range of 52 cents to 54 cents.

The S&P Capital IQ consensus normalized EPS estimate for the first quarter is 53 cents.

For the full year, PayPal expects revenue to grow 15% to 17% at current spot rates and 14% to 16% on a foreign exchange-neutral basis, to a range of $15.00 billion to $15.25 billion. The guidance includes an expected impact of the sale of U.S. consumer credit receivables to Synchrony Financial of roughly 3.5 percentage points for full year 2018, assuming the deal closes July 1. The company expects GAAP EPS in the range of $1.79 to $1.86 and non-GAAP EPS in the range of $2.24 to $2.30.

The S&P Capital IQ consensus normalized EPS estimate for the full year is $2.28.

Additionally, the company reported fourth-quarter 2017 GAAP net income of $620 million, or 50 cents per share, compared with $390 million, or 32 cents per share, in the year-ago quarter.

The company reported non-GAAP net income of $670 million, or 55 cents per share, up from $512 million, or 42 cents per share, in the prior-year quarter.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 52 cents.

For full year 2017, the company posted GAAP net income of $1.80 billion, or $1.47 per share, compared with $1.40 billion, or $1.15 per share, a year ago.

Non-GAAP net income for the year was $2.32 billion, or $1.90 per share, compared with $1.83 billion, or $1.50 per share, in 2016.

The S&P Capital IQ consensus normalized EPS estimate for the year was $1.87.