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After posting an impressive beat in its Q2 earnings report, PayPal (NASDAQ: PYPL) stock has surged 7.06% in the pre-market trading. As of the July 29 close, PYPL stock is valued at $58.94 after adding 1.12% in the latest trading session, countering the losses of 2.90% from the previous five trading days. If the pre-market gains hold, PYPL stock could again trade in the green in 2024, as currently, it shows a 4.10% decrease from the January 1 price. PYPL stock 24-hour price chart. Source: Finbold What exactly did PayPal’s Q2 report reveal? In its second-quarter 2024 earnings report, PayPal revealed net revenue of $7.89 billion, surpassing expectations of $7.82 billion and marking an 8.2% year-over-year increase.  Adjusted earnings per share (EPS) reached $1.19, well above the forecasted $1.00, representing a 36% rise from the previous year. Total payment volume (TPV) was $416.81 billion, slightly below the $417.27 billion estimate but up 11% year-over-year. The company has revised its full-year 2024 guidance, raising its share buyback forecast to $6 billion from at least $5 billion and increasing its free cash flow estimate to $6 billion from about $5 billion. Transaction revenue for the quarter was $7.15 billion, exceeding expectations and showing a 9.1% increase year-over-year.  CEO Alex Chriss commented: “PayPal delivered a strong second quarter and first half, marked by our best transaction margin dollar growth since 2021. We are making steady progress on our strategic transformation, investing in innovation, and operating more efficiently. Chriss added, “Given the strength of our business, we are raising our 2024 guidance and increasing share repurchases. We are operating from a position of strength, delivering for our customers, and focusing on long-term profitable growth.” Wall Street is yet to react to PayPal stock news With analysts from larger financial institutions yet to respond to…

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Filed under: News - @ July 30, 2024 4:12 pm