PayPal Holdings Inc PYPL is trading lower Thursday morning after the company announced second-quarter financial results and issued guidance below estimates.
PayPal reported quarterly earnings of $1.15 per share, which beat the estimate of $1.13 per share. The company reported quarterly revenue of $6.24 billion, which missed the estimate of $6.27 billion.
PayPal said it expects full-year 2021 adjusted earnings of $4.70 per share, which came in below the estimate of $4.73 per share.
"Our platform now supports 403 million active accounts, with an annualized TPV run rate of approximately $1.25 trillion. Clearly PayPal has evolved into an essential service in the emerging digital economy," said Dan Schulman, president and CEO of PayPal.
Price Action: PayPal has traded as high as $310.16 and as low as $171.63 over a 52-week period.
At last check Thursday, the stock was down 5.54% at $285.25.
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