PayPal Holdings Inc. (NASDAQ: PYPL) shares surged 14.5% higher on Thursday as the company's first-quarter earnings report suggested it is set to grow during and after the novel coronavirus (COVID-19) pandemic.The company reported an adjusted earnings per share of 66 cents, 12% below the average analyst estimate of 75 cents.It posted a total revenue of $4.6 billion, missing the Wall Street estimate of $4.74 billion by nearly 3%.Regulatory Framework Change Caused Low EPS RBC Capital Markets Analysts noted that the first-quarter adjusted EPS missed the expectations due to the new Current Expected Credit Loss (CECL) accounting standards mandates. Absent the regulatory change, PayPal would have posted an EPS of 83 cents, up 9% from what the analysts had estimated."The change was a result of the deteriorating economic factors and the company feels the current level is conservative," Rosenblatt Securities analyst said. "This will be an area to watch going forward as...
Lower interest rates would further weigh on bond yields and boost demand for non-yielding bullion, which hit a near two-week peak in the last session. Spot gold was steady at $1,715.23 per ounce, as of 0315 GMT, having hit its highest since April 27 at $1,721.76 in the previous session. U.S. gold futures added 0.1% to $1,727....
Pinterest Inc. (NYSE: PINS) on Thursday announced that Shopify Inc. (NYSE: SHOP) merchants can now sell directly on its platform through "shoppable Product Pins."The Shopify merchants will be able to upload their catalogs on Pinterest using a new app, where the latter's 335 million users can discover the products and make direct purchases from the merchant website, the two companies said in a joint statement.The feature is currently only available in the United States and Canada. It will go live for merchants in countries where Pinterest ads are available, including the European Union, Australia, and New Zealand, in coming weeks, the companies noted.The number of Pinterest users who engaged with shoppable Product Pins has increased 44% year-on-year in the first quarter, the statement read, and total traffic to retailers increased 230%."Merchants are adapting to new realities and looking ahead to the future of retail, which is why we're focused on making...
Pinterest Inc. (NYSE: PINS) on Thursday announced that Shopify Inc. (NYSE: SHOP) merchants can now sell directly on its platform through "shoppable Product Pins."The Shopify merchants will be able to upload their catalogs on Pinterest using a new app, where the latter's 335 million users can discover the products and make direct purchases from the merchant website, the two companies said in a joint statement.The feature is currently only available in the United States and Canada. It will go live for merchants in countries where Pinterest ads are available, including the European Union, Australia, and New Zealand, in coming weeks, the companies noted.The number of Pinterest users who engaged with shoppable Product Pins has increased 44% year-on-year in the first quarter, the statement read, and total traffic to retailers increased 230%."Merchants are adapting to new realities and looking ahead to the future of retail, which is why we're focused on making...
