Deals
PayPal, EBay Earnings Validate Pressure to Split Company
- Shares of payments business advance most since July breakup
- EBay struggles to lure shoppers from Amazon, other options
Attendees visit the PayPal booth at the Money 20/20 conference in Las Vegas.
Photographer: Jacob Kepler/BloombergThis article is for subscribers only.
PayPal Holdings Inc. wooed investors by increasing its customer base and transaction volume, while former parent company EBay Inc. disappointed with declining sales on its core online marketplace.
The divergent earnings results reported Wednesday validated activist investor Carl Icahn’s push to split the companies and unlock the growth potential of PayPal, which he called the “jewel” of the business.