PayPal Q2 Transaction Revenue Rose 17%; Earnings Top Estimates
PayPal’s (PYPL) Q2 transaction revenue rose 17% to $5.80 billion from $4.95 billion in the year-earlier period.
Quarter over quarter, transaction revenue rose by 3%, from $5.6 billion.
Part of PayPal’s transaction revenue comes from the company’s crypto buy, sell, and hold product, but the company excludes crypto payments from total payment volume.
The payments giant also added 11.4 million in net new active accounts in Q2, down from the 23.3 million in year-earlier period and below the 14.5 million it added in Q1.
Overall, PayPal topped expectations with Q2 adjusted earnings of $1.15, above the consensus estimate of $1.12 according to FactSet.
Q2 2021 is the third quarter PayPal has reported earnings including results from its crypto buying and selling product. The company has reported in the past that customers who purchased crypto through the platform have been logging into PayPal twice as often as they were before they could buy crypto.Source