Square reported a surprise loss in the first quarter on Wednesday, as the coronavirus outbreak shut down large parts of the global retail industry and operating expenses rose, while PayPal’s profit plunged 87.4% after it boosted credit loss reserves. Analysts, however, bought into PayPal’s predictions that the second quarter would be far brighter as more consumers get back to work and the boost the crisis has given to online sellers beds down. “On May 1, we had our largest single day of transactions in our history, larger than last year’s transactions on Black Friday or Cyber Monday,” PayPal’s …read more
Source:: Yahoo Finance
