After going straight down for the last year PayPal (PYPL) is showing signs of life. 2Q22 Total Payment Volume (TPV) rebounded to $340 billion. Revenue of $6.8 billion also speaks to stabilization. As a result, PYPL was able to slightly raise its full year EPS guidance to $3.87-$3.97.
After a nice bounce, PYPL is up another 14% in the after hours so I wouldn’t chase it here. PYPL – and many others – got too expensive during the pandemic due to easy money and the turbocharge ecommerce received from people staying at home. But ecommerce is still a thing and PYPL is a major player. Its not going to $0.