PayPal (NASDAQ: PYPL) reported its second-quarter results after the market close on Wednesday, and surprised even the most bullish on Wall Street. What made its performance all the more remarkable was the already high expectations going into the report.
The digital payment processor reported revenue of $5.26 billion, up 22% year over year, easily surpassing the 13% growth management had forecast. Profits were even more impressive, with earnings per share (EPS) of $1.29, vaulting 86%, while adjusted EPS climbed 49%. Operating cash flow more than doubled, growing to $2.38 billion, up 103% year over year. Free cash flow also soared, climbing 112% to $2.19 billion.
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Source Fool.com