PayPal CEO touts next generation digital wallet after earnings beat

▤ Summary

PayPal shares rose as much as 5.5% in extended trading on Wednesday after reporting first-quarter earnings that were stronger than analysts had expected. "Weve got a tremendous amount of really great results going on tactically with our crypto efforts," said Schulman. The mobile payments company made a big push into crypto in the last six months, allowing users in the U.S. to buy, sell, and check out with cryptocurrencies. Schulman described the product as an "all-in-one, personalized app [that] will provide increasingly customized and unique shopping, financial services, and payments experiences." With respect to guidance, for the second quarter PayPal sees adjusted earnings of $1.12 per share on $6.25 billion in revenue.

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PayPal

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