Why PayPal Stock Is Down By 5% Today

Why PayPal Stock Is Down By 5% Today

Shares of PayPal found themselves under significant pressure after the company reported its second-quarter results. PayPal reported revenue of $6.24 billion and GAAP earnings of $1.00 per share, missing analyst estimates on revenue and beating them on earnings.

The company stated that the number of total active accounts exceeded 400 million in Q2 2021, and PayPal processed 4.7 billion payment transactions. PayPal also noted that it repurchased 765,000 shares of its common stock during the quarter.

While second-quarter results were good and the company’s earnings exceeded analyst estimates, the market focused on PayPal’s guidance for the third quarter.