It's been a tough year for PayPal Holdings (NASDAQ: PYPL). After business boomed during the pandemic, the online payments specialist got hit with some challenges amid the macroeconomic uncertainty the pandemic left behind. At one point, the company warned about slowing sales. Then it reduced its revenue expectations for the year multiple times.
But CEO Dan Schulman recently offered another update on the company and told investors he believes the worst is behind the payments company. Let's look at what he had to say and why he might be right.
PayPal was a big beneficiary during the pandemic as more consumer spending was forced to rely on online payments. In 2020 and 2021, PayPal added 122 million new accounts to its platform, grew its revenue by 43%, and surpassed $1 trillion in total payment volume annually for the first time.
Source Fool.com