Market
PayPal shares sink more than 6% as earnings disappoint investors
Despite its optimistic year-end expectations, PayPal’s quarterly operating margin failed to appease investors yesterday. PayPal’s shares were down 7% in extended trading.
Due to growth issues in the wake of stiffer competition from Apple and others, PayPal’s adjusted operating margin for Q2 2023 came in at 21.4%, below its forecasted 22%.
PayPal CEO Dan Schulman also blamed inflation for slowing e-commerce growth but believes cooling inflation is “accelerating” it again.
