PayPal earnings disappoint investors, shares fell 7% in extended trading

The payments company’s adjusted operating margin came in below expectations.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.PayPal's quarterly operating margin failed to appease investors yesterday, sending its share price down 7% in extended trading — though executives at the American payments behemoth shared optimistic year-end expectations.

"When we think about the back half, in Q3, we'll still see some pressure on transaction margin performance," acting CFO Gabrielle RabinovitchPayPal's adjusted operating margin for Q2 2023 came in at 21.4% — below its forecasted 22% — due to slowed growth in branded products in the face of increased competition from Apple and others.

PayPal CEO Dan Schulman — who's retirement was announced in February — also blamed inflation for slowing e-commerce growth but believes cooling inflation is"accelerating" it again.PayPal Ventures led

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