PayPal Holdings Inc PYPL is trading lower Thursday morning after the company announced second-quarter financial results and issued guidance below estimates.
PayPal reported quarterly earnings of $1.15 per share, which beat the estimate of $1.13 per share. The company reported quarterly revenue of $6.24 billion, which missed the estimate of $6.27 billion.
PayPal said it expects full-year 2021 adjusted earnings of $4.70 per share, which came in below the estimate of $4.73 per share.
"Our platform now supports 403 million active accounts, with an annualized TPV run rate of approximately $1.25 trillion. Clearly PayPal has evolved into an essential service in the emerging digital economy," said Dan Schulman, president and CEO of PayPal.
Price Action: PayPal has traded as high as $310.16 and as low as $171.63 over a 52-week period.
At last check Thursday, the stock was down 5.54% at $285.25.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
