PayPal beats on second-quarter revenue, announces partnership with Visa

Shares of PayPal Inc. rose 5% after hours Thursday after the company reported second-quarter earnings beat revenue expectations and announced a partnership with Visa Inc . PayPal reported net income of $323 million, or 27 cents per share, up from $305 million, or 25 cents per share in the year-earlier period. PayPal reported adjusted earnings per share of 36 cents, in line with the 36 cents expected by analysts surveyed by FactSet. PayPal reported revenue of $2.65 billion, up from $2.29 billion in the year-earlier period and above the FactSet consensus of $2.60 billion. PayPal's partnership with Visa will give PayPal access to Visa's tokenization services, which will grow the number of stores able to accept payment through PayPal.

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