PayPal Q2 Earnings Beat Estimates, Revenue Jumps 7% On 'Continued Momentum,' Shares Slide
Portfolio Pulse from Adam Eckert
PayPal Holdings Inc reported Q2 results, with revenue increasing 7% YoY to $6.81 billion, beating the consensus estimate of $6.59 billion. Earnings per share were $1.16, surpassing analyst estimates of $1.05. Total payment volumes increased 11% YoY to $376.5 billion. The company ended the quarter with $14.4 billion in cash, equivalents, and investments. Despite the positive results, PayPal shares were down 7.38% after hours.
August 04, 2023 | 12:16 pm
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PayPal's Q2 results beat estimates, with revenue and earnings per share surpassing expectations. However, the company's stock fell 7.38% after hours.
PayPal's Q2 results were strong, with revenue and earnings per share beating estimates. However, despite these positive results, the company's stock fell in after-hours trading. This suggests that investors may have had higher expectations for the company's performance, or there may be other factors at play affecting the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100