Overview
- PayPal’s board removed Alex Chriss and appointed Enrique Lores to take over on March 1, with CFO Jamie Miller serving as interim CEO.
- Fourth-quarter revenue of $8.68 billion and adjusted EPS of $1.23 came in below analyst expectations.
- Shares dropped by roughly 14% to 18% after the results and a cautious outlook.
- Management now guides to a mid‑single‑digit EPS decline, citing slower growth in high‑margin checkout and softer engagement.
- HP began a CEO search as its shares fell following Lores’s departure to PayPal.