PayPal reported earnings after the bell on Thursday, showing $2.65 billion in revenue for the quarter, when analysts were expecting $2.6 billion. Adjusted earnings per share was also in line with Wall Street estimates at 36 cents.
Shares ticked up 2% in after-hours trading, in part because of a Visa announcement that was timed with earnings. The new partnership with Visa, emphasized that they will be collaborating more and will make it easier for customers to move money from their PayPal account to their bank accounts using their Visa debit card. The partnership also means that PayPal digital wallet payments will be accepted at retail locations that facilitate Visa contactless payment transactions.