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Provided by Dow Jones By Allison Prang PayPal Holdings Inc. s profit dropped in the second quarter as the company logged less in net other income. The payments company s earnings fell from a year ago to $1.18 billion, or $1 a share. A year ago, they were $1.53 billion, or $1.29 a share. Adjusted earnings were $1.15 a share. According to FactSet, analysts were expecting $1.12 a share of adjusted earnings. Net revenues were $6.24 billion and rose 17%. Analysts were expecting $6.27 billion. PayPal logged net other income of $229 million, down from $848 million a year ago. The company reported $311 billion in total payment volume which it said rose 40%. On a foreign-exchange neutral basis, it rose 36%. PayPal said it added 11.4 million net new active accounts, down 47% from the number of net new active accounts it added a year earlier. ....
PayPal's Profit Falls in 2Q | MarketScreener marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.