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PayPal Stock Is Dropping After Beating Earnings Expectations. Blame eBay.

·3 min read
PayPal Stock Is Dropping After Beating Earnings Expectations. Blame eBay.
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PayPal reported an adjusted profit of $1.15 a share, beating forecasts for $1.13 on sales of $6.24 billion, missing analyst estimates for $6.27 billion. PayPal highlighted the impact of (EBAY)‘s transition to a “managed payments” system as one source of slower growth. TPV growth was 40% with eBay, 48% without out, while sales grew at a 32% clip without eBay versus 19% with.