PayPal delivered a Q2 earnings beat with EPS of $1.40 versus $1.30 expected and revenue of $8.29 billion versus $8.08 billion expected. Shares have fallen more than 78% from the July 2021 all-time high and market capitalization decreased from a $356.75 billion peak to about $64.54 billion. Year-to-date performance shows a 21.62% loss with recent monthly volatility including an 11.12% decline and a rebound of 17.66% since the 52-week low. PayPal was founded in 1998, spun off from eBay in 2015, and operates in a global fintech market forecast to grow at a 17.5% CAGR through 2030.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) plummeted 11.12% over the past month after gaining 4.23% the month prior. That brings the payment processor's year-to-date loss to 21.62%. However, the stock is up 17.66% since its 52-week low on April 8. When PayPal reported Q2 earnings on July 29, it beat on both top and bottom lines. EPS was $1.40 versus an expected $1.30, and revenue was $8.29 billion versus an expected $8.08 billion.
Long before there was Venmo and Cash App, there was PayPal. The pioneer of online payments was founded in 1998 in San Jose, Calf. Four years later, it went public and was then acquired by eBay, Inc. (NASDAQ:EBAY) later in 2022. But in 2015, eBay spun the company off to its shareholders, and PayPal has been an independent company ever since. Since then, the company's online payments services have exploded in popularity, with its market cap peaking at $356.75 billion in July 2021.
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