PayPal shares rose after the payment company reported fourth-quarter results. Separately, PayPal announced that president and CEO Dan Schulman will retire on December 31 of this year. Schulman will continue to serve on the Board of Directors and the company will look for a successor.
PayPal's total payment volume for the fourth quarter of $357.38 billion came in below the average analyst estimate of $365.41 billion. Net revenue of $7.38 billion grew +6.7% year-over-year and was roughly in line with the expectation of $7.4 billion.
PayPal's adjusted earnings per share of $1.24 came in above Wall Street analyst estimates of $1.20.