PayPal Raises 2024 Profit Outlook and Stock Buybacks After Strong Q2

The digital payment giant reports better-than-expected earnings, driven by robust transaction growth and strategic changes under new CEO Alex Chriss.

PayPal's Q2 revenue rose 8% year-over-year to $7.89 billion, surpassing analyst predictions.
Adjusted earnings per share increased to $1.19, beating forecasts and reflecting a 36% rise.
Transaction revenue grew 9%, with total payment volume reaching $416.8 billion.
CEO Alex Chriss attributes the positive results to strong business fundamentals and strategic shifts.
PayPal has raised its full-year adjusted profit growth forecast to a low- to mid-teens percentage.