PayPal expects Q4 revenue below estimates as profit push puts growth behind

PayPal forecast fourth-quarter revenue below estimates on Tuesday as the digital payments company shifts its focus to higher-margin businesses from aggressive expansion, sending its shares down 6.6 per cent before the market open.

Efficiency has been a focal point for PayPal as CEO Alex Chriss, who took the helm last year, pushes for cost discipline through job cuts and higher investments in automation and artificial intelligence.