PayPal surges due to earnings

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Source: Dukascopy Bank SA


The stock price of PayPal is set to start the day's trading with a gap up of 6.88% or $3.55. The move has been caused by the quarterly earnings release.

PayPal has reported earnings per share of $1.30 instead of forecast $1.229, which is an increase of 5.79%. Meanwhile, total Revenue has increased by just 0.44%. However, these results were not the main reason for the surge.

Investors started buying up the stock, as the company announced a plan to cut costs that would not affect income. Namely, the next quarter and annual earnings per share should continue to increase.
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