July 25 (Reuters) – PayPal Holdings Inc on Wednesday reported a second-quarter profit that beat analysts’ estimates, but its forecast for third-quarter revenue came short up. 411 million, or 34 cents per share, year earlier a. Excluding one-time items, the business earned 58 cents per share, beating the average analyst estimate of 57 cents, according to Thomson Reuters I/B/E/S.
86.10 following the bell. Since separating from online market eBay Inc in 2015, San Jose, California-based PayPal has been striving to become more than only a checkout button on e-commerce platforms. It has been expanding the breadth of its services via an aggressive strategy of acquisitions and partnerships, as it looks to stay ahead of rivals in the increasingly competitive digital payments landscape.
PayPal Chief Executive Dan Schulman said on a call with analysts. 2.2 billion, in its largest ever acquisition. The following month it decided to acquire prediction platform Jetlore, fraud prevention startup HyperWallet and Simility Systems Inc, an organization that helps online individual and small business sellers accept payments. Earlier this week, PayPal won the support of Third Point LLC, Daniel Loeb’s activist hedge fund, which uncovered in an trader letter that a stake have been taken by it in the online obligations company. Third Point’s letter said. 139 billion in obligations in the next quarter of 2018, a year earlier up 29 percent from. 14 billion in payments in the second quarter, 12 months up 78 percent from the same period last. 10 billion in share buybacks.