paypal (PYPL) the stock fell about 3% Friday morning, better than what investors saw last night after the payment technology company reported profit.
At its post-hours low, PayPal stock fell nearly 14%. That came despite PayPal reporting a quarter that exceeded expectations.
Third-quarter earnings of $1.08 per share exceeded analyst expectations by 12 cents per share, while revenue grew nearly 11% year over year to $6.85 billion and also exceeded consensus expectations.
Further, management raised its full-year earnings guidance to a range of $4.07 to $4.09 per share, from a range of $3.87 to $3.97 per share. Consensus expectations were $3.93 per share in the report.