PayPal Lifts Full-Year Guidance After 2Q Profit Gains From Active Accounts, Venmo

PayPal raised its full-year earnings guidance after reporting a profit of $1.26 billion in Q2, up from $1.13 billion a year earlier. The company expects earnings of $4.90 to $5.05 per share, an increase from its previous forecast. Total payment volumes rose 6% to $443.55 billion, with revenue increasing 5% to $8.29 billion. Venmo's revenue surged 20%, and active accounts grew to 438 million. PayPal is focusing on profitable growth through various checkout options, resulting in a 7% increase in transaction margin dollars to $3.8 billion.