PayPal Holdings (PYPL) on Wednesday reported June-quarter earnings and revenue that edged by estimates. The company’s September-quarter profit outlook for PYPL stock also narrowly beat views as analysts await the announcement of a new chief executive.
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Reporting after the close, PayPal said earnings for the second quarter ended June 30 were $1.16 a share, up nearly 15% from a year earlier. The digital payments company said revenue climbed 7% to $7.3 billion.
Analysts expected PayPal earnings of $1.15 a share on revenue of $7.27 billion. A year earlier, PayPal earned 93 cents a share on sales of $6.8 billion. For the September quarter, PayPal predicted earnings of $1.23 a share. Analysts had called for earnings of $1.21 a share.
PayPal stock fell 6.5% to 68.40 in extended trading on the stock market today.
“We believe the most acute issue with the print will be the 7%…
