PayPal stock climbs as CEO keeps door open to strategic deals
PayPal's stock rose over 4% after CEO Enrique Lores reaffirmed the company’s focus on a multiyear turnaround while signaling openness to strategic opportunities that could create value. Earlier this month Reuters reported Stripe and Advent had offered about $60 per share for PayPal, fueling optimism. The company beat expectations in Q2 with diluted EPS of $1.38 and payments volume up 10% to $486.4 billion, and it raised its full-year adjusted earnings outlook. PayPal has reorganized into three units to rebuild its consumer business and expand beyond Venmo, with management forecasting momentum in the second half of next year. Some analysts worry the turnaround may be lengthy and costly, though others view the takeover chatter as a potential upside.”,
