PayPal reported second-quarter earnings on Tuesday, with earnings that beat analysts’ expectations. According to Seeking Alpha, trading revenue accounted for 92% of all revenue, which includes fees to buy and sell cryptocurrencies, and the company reported total revenue of $6.8 billion, up 9% year-over-year, beating expectations by $20 million, non-GAAP per Shares earned $0.93, beating expectations by $0.06.
2022 revenue is expected to exceed $27 billion, while 2021 revenue is expected to be around $25 billion. Shares of PayPal rose 13% in after-hours trading on Tuesday after the report, and were trading around $89.63.
In addition, well-known hedge fund Elliott Investment Management disclosed that it holds a $2 billion stake in PayPal, making it one of its largest investors.
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