PayPal is aggressively adding new features for merchants, like in-store services, to shore up profits as its historic online marketplace partner, eBay, breaks away from the tie.
PayPal has known for years that eBay planned to break away, and now the divorce is finally happening. PayPal reported Wednesday that second-quarter net revenue shot up 19% to $6.24 billion over the period last year, thanks largely to pandemic-driven online spending, but its net income for the quarter fell 23% to $1.18 billion.
