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PayPal Beats Estimates for the 2nd Quarter

PayPal Holdings Inc. (PYPL) has been steadily gaining new partnerships in the payments, point of sale and lending markets. On Wednesday, PayPal's results provided more insight on the company's business growth.

For the second quarter, PayPal reported revenue of $3.14 billion, beating estimates by $50 million and increasing 18.5% from the comparable quarter. Earnings per share for the quarter were 46 cents, beating estimates by three cents and increasing 27% from the comparable quarter. Revenue for the first half of the year is up 18% and operating income is 11% higher.

As of the end of the second quarter, the company had 210 million active customer accounts, which includes 17 million merchant accounts. In the second quarter of 2017, the company added 6.5 million active customer accounts, made 1.8 billion payment transactions and reported $106 billion in total...