New Delhi, Feb. 3 -- American payments giant PayPal on Tuesday announced a disappointing profit outlook for 2026 and released fourth quarter results that fell short of Wall Street estimates.

The corporation also announced the appointment of HP's Enrique Lores as its incoming president and CEO.

PayPal stock plunged nearly 16% in pre-market trading after the company's board indicated that the pace of transformation and strategic delivery under current CEO Alex Chriss failed to meet their targets.

Chriss was responsible for guiding PayPal through a turbulent phase as post-pandemic commerce activity slowed and competitive threats in its primary sector from major tech firms and emerging fintech challengers grew more intense.

PayPal announc...