Shares of PayPal Holdings (NASDAQ: PYPL) declined by 10.5% on Tuesday after the sales and profit outlook of the digital payments company fell short of the market's expectations.
PayPal's revenue rose 13% year over year to $6.2 billion in the third quarter. The gains were fueled by a 26% rise in total payment volume, to $310 billion.
Notably, PayPal continues to add new users at a solid clip. The payments platform gained 13.3 million net new active accounts during the quarter, bringing its total account base to 416 million.
Source Fool.com