PayPal (PYPL.US) falls over 6% as Q4 revenue outlook slightly misses expectations

PayPal (PYPL.US) opened lower on Tuesday and fluctuated below water, down over 6% at 78.17 at the time of writing. The company's third-quarter results showed that its total payment volume (TPV) grew approximately 9% year-on-year to US$422.6 billion, topping analysts' consensus of US$421.6 billion. The company's total revenue in the third quarter was approximately US$7.85 billion, up 6% year-on-year, but slightly lower than analysts' expectations. PayPal's revenue outlook for the fourth quarter was slightly below Wall Street analysts' consensus, with the latest outlook showing that the revenue growth in the last three months of the year would be in the "low single-digit" range (i.e., below 5%), while analysts had previously expected a growth of 5.4%.PayPal CEO Alex Caparol previously stated that a proposed plan would no longer allow customers to use PayPal's technology for free, but this would take time and could mean a slowdown in revenue growth.The company's revenue growth in the fourth quarter was slightly below Wall Street analysts' consensus, with the latest outlook showing that the revenue growth in the last three months of the year would be in the "low single-digit" range (i.e., below 5%), while analysts had previously expected a growth of 5.4%.