PayPal reported second-quarter revenue of $8.68 billion, surpassing Wall Street revenue and earnings estimates. Revenue rose 5% as the company executed its turnaround plan. The company also raised its full-year adjusted profit forecast following strong performance from Venmo and Braintree.
CEO Enrique Lores stated the board will consider offers that create superior value for shareholders. This follows reports that PayPal previously rejected a $53 billion takeover bid from Stripe and Advent International.