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PayPal’s Second-Quarter Revenue Exceeded Expectations, With Transaction Revenue Accounting For 92%, Including Cryptocurrency-Related Revenue

By WebsCryptoAugust 4, 20221 Min Read
PayPal’s Second-Quarter Revenue Exceeded Expectations, With Transaction Revenue Accounting For 92%, Including Cryptocurrency-Related Revenue
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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.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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