PayPal stock jumps 9% as company confirms Elliott stake and names EA exec as new CFO amid earnings beat
August 02, 2022 at 16:21 PM EDT
After seeing its shares lose roughly two thirds of their value over the past year, PayPal Holdings Inc. delivered a packed earnings report for its second quarter, announcing a new chief financial officer, buyback authorization, and cost-savings program, while also confirming that activists at Elliott Management have taken a stake in the company.