Paypal's second-quarter profit fell! Future revenue will continue to be affected by eBay

It is learned that on July 28, PayPal released its second quarter results for 2021. As of June 2021, Paypal's quarterly total revenue was US$6.24 billion, a year-on-year increase of 19%. Its total user payments increased by 40% to US$311 billion. Net profit was US$1.184 billion, a year-on-year decrease of 23%.

PayPal currently has 403 million active accounts, up 16%, of which 32 million are active user accounts. PayPal said that more and more merchants are accepting QR codes, with an average of three sellers signing up to provide PayPal QR codes every minute.

The company pointed out that without the impact of eBay, the transaction volume growth would be about 48%. It is reported that after 15 years of cooperation between eBay and Paypal, eBay announced last year that it would stop using PayPal as its back-end payment service.

eBay is expected to affect PayPal's revenue by seven percentage points in the future. In the past 12 months, PayPal's top 15 markets and platforms have grown 64% in transaction volume to approximately $118 billion, while eBay's market transaction volume has fallen 6% over the same period.

PayPal's total cross-border spending also rebounded, growing 38% year-over-year to $51 billion in the second quarter, according to its latest results.

Editor✎ Irene/

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