PayPal Q2 revenue misses estimates at $6.24B

Wednesday, 28. July 2021 22:19

Paypal online payment service reported its financial results for the second fiscal quarter of 2021 on Wednesday marking a revenue of $6.24 billion, 17% higher than in the comparable period of last year, but slightly missing analyst expectations. Earnings per share grew by 23% year-on-year to reach $1.

Total payment volume added 40% compared to the same period of last year and amounted to $311 billion. PayPal's net income stood at $1.18 billion, up 23% from last year's second quarter.

"On the heels of a record year, we continued to drive strong results in the second quarter, reflecting some of the best performance in our history. Our platform now supports 403 million active accounts, with an annualized TPV run rate of approximately $1.25 trillion," said Dan Schulman, PayPal's president and CEO.

Following the report, PayPal stocks lost 7.57% to sell for $279.19 per share in the after-hours trading.

Related Links: PayPal Holdings Inc.
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Breaking the News / LH