PayPal Holdings Inc (NASDAQ:PYPL) shares are trading higher Thursday after the company reported better-than-expected top-line results.
PayPal said first-quarter revenue increased 7% year-over-year to $6.5 billion, which beat the $6.4 billion estimate. The company reported quarterly adjusted earnings of 88 cents per share, which was in line with estimates, according to data from Benzinga Pro.
PayPal said it expects full-year 2022 revenue to increase 11% to 13% year-over-year. The company expects full-year adjusted earnings to be in a range of $3.81 to $3.93 per share versus the $4.63 estimate.
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Thursday on CNBC's "Fast Money Halftime Report," Market Rebellion co-founder Jon Najarian named PayPal his top stock pick for the year.
"PayPal in the $80s, I think, is a great opportunity," Najarian said.
PYPL Price Action: PayPal shares have traded between $82.12 and $310.16 over a 52-week period. It's down more than 50% year-to-date.
The stock was up 11.4% at $92.05 at time of publication.
Photo: courtesy of PayPal.
