PayPal Holdings Inc. beat Wall Street estimates with an 86 percent increase in quarterly profit due to a widespread shift to online spending amid the pandemic.
The company expects the trends to continue and earnings per share to increase about 25 percent on 22 percent revenue growth for the full year.
The robust earnings growth came just three months after PayPal withdrew full-year guidance as it was uncertain about the pandemic's economic consequences.
PayPal processed $222 billion in payments over the period, up 30 percent from a year earlier, while adding $21.3 million accounts during the quarter, up 137 percent from the previous year.
Revenue increased 25 percent to $5.26 billion, surpassing analysts' estimate of $5.0 billion, while net income jumped to $1.53 billion from $823 million a year before.
The earnings growth was unexpected, with PayPal uncertain about the pandemic's economic consequences, prompting it to withdraw full-year guidance three months ago.


European EV Sales Surge in April 2026 as Tesla and Chinese Automakers Gain Ground
SpaceX IPO Could Become Largest in History with $1.8 Trillion Valuation Target
Autodesk Beats Q1 Estimates, Acquires MaintainX for $3.6 Billion
Blue Origin New Glenn Rocket Explodes During Launch Pad Test, Delaying Space Ambitions
Synopsys Q2 FY2026 Earnings Beat Driven by AI and Semiconductor Demand
Costco Q3 Fiscal 2026 Earnings Beat Expectations as Sales and E-Commerce Surge
Salesforce Q1 FY2027 Earnings Beat Expectations Despite Soft Q2 Revenue Outlook
Xiaomi Shares Drop After Weak Q1 Earnings Amid Rising Smartphone Costs
SQM Q1 Profit More Than Doubles as Lithium Prices Surge
Dell Raises 2027 Revenue Forecast as AI Server Demand Drives Record Quarterly Results
Marvell Stock Rises After Record Q1 FY2027 Earnings Fueled by AI Demand
Samsung Workers Approve Wage Deal, Avoiding Major Strike and Boosting Chip Supply Confidence
Samsung to Invest $1.5 Billion in Vietnam Semiconductor Testing Plant by 2027
Elon Musk Explores Possible Tesla-SpaceX Merger Amid Growing AI Investments
CTOC Goes Live on Bitget Wallet Trading, Expanding Global Access to AI-Powered Healthcare Data Ecosystem
HP Q2 2026 Earnings Beat Expectations Despite Memory Chip Pressure
Kentucky School District Secures $27 Million in Social Media Addiction Lawsuit Settlements 



