PayPal Holdings (PYPL) early Tuesday reported second-quarter earnings and revenue that topped estimates while total payment volume came in slightly below views. PayPal stock climbed as other key metrics topped estimates.
↑
X
Use These Hedging Strategies To Protect Your Portfolio When Downside Reversals Happen
Under new accounting rules, PayPal earnings for the June quarter rose 36% to $1.19 per share on an adjusted basis. Revenue climbed 8% to $7.9 billion, the digital payments firm said.
Analysts polled by FactSet expected PayPal earnings of 98 cents a share on revenue of $7.82 billion.
Transaction gross profit rose 6.5% to $3.2 billion, topping estimates by 1%.
PayPal Stock: New CEO Makes Changes
In Q2, total payment volume processed from merchant customers in the quarter climbed 11% to $416.8 billion. Analysts had projected total payment volume of $417.5 billion.
San Jose, Calif.-based PayPal has evolved from an online checkout site to a mobile shopping and person-to-person payments site. Meanwhile, competition has heated up with Apple (AAPL), Square-parent Block (SQ) and others.
On the stock market today, PayPal stock rose more than 7% to 63.45.
Heading into the PayPal earnings report, shares were down 4% in 2024.
New CEO Alex Chriss took the helm in late September. He’s been making big changes.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
YOU MAY ALSO LIKE:
Want To Trade Options? Here Are The Basics To Get You Started
Monitor IBD’s “Breaking Out Today” List For Companies Hitting New Buy Points
IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today
Stock Market Exposure Level: How Invested Should You Be Right Now?
