PayPal raised its full-year adjusted earnings forecast to about $5.60 a share from $5.38 after third-quarter profit of $1.45 a share beat the $1.31 analysts expected, but revenue rose just 2% to $8.58 billion, short of the $8.71 billion estimate. Online branded checkout, PayPal’s core business, grew only 1% excluding currency swings and hasn’t topped 2% in four straight quarters, while buy now, pay later volume climbed 25%. PayPal has cut more than 2,000 jobs so far under CEO Enrique Lores’ restructuring, which aims to shrink the workforce by about 20% and reach at least $1.5 billion in annual savings within two to three years.
