PayPal credits (PYPL) shares fell Tuesday after the payment services provider missed its third-quarter sales estimates and gave weak guidance as the company pursues its “price-to-value” strategy.

PayPal said its revenue rose 6% year over year to $7.85 billion. Analysts surveyed by Visible Alpha were looking for $7.88 billion. Earnings per share (EPS) of $0.99 beat forecasts by a penny.

Total payment volume increased 9% to $422.6 billion. Payment transactions increased 6% to 6.6 billion, with payment transactions per active account (on a rolling 12-month basis) increasing 9% to 61.4. The total number of active accounts increased by just under 1% to 432 million.

Chief Executive Officer (CEO) Alex Chriss said PayPal is making “strong progress in our transformation as we bring new innovations to market, forge important partnerships with leading commerce players, and build awareness and engagement through new marketing campaigns “.

PayPal sees its adjusted EPS decline in the fourth quarter

The company expects current quarter revenue growth of low single-digit percentages, reflecting the impact of its “price-value strategy and focus on profitable growth,” and lower EPS adjusted by a low to mid single digit percentage. .

Shares of PayPal Holdings hit their 2024 high yesterday, and even with today’s 3.5% drop, they’re still up more than 30% year to date.