PayPal Stock Rises After Q1 Beat, But New CEO’s $1.5 Billion Reset Has A Checkout Problem
PayPal reported first-quarter revenue of $8.35 billion, beating estimates and sending shares up over 2% premarket. Adjusted earnings reached $1.34 per share, above forecasts, while GAAP net income fell 14% to $1.11 billion. Total payment volume rose 11% to $464 billion. Branded checkout payment volume increased just 2% in the quarter.