PayPal shares fall 5% as eBay moves on from payments firm

PayPal still expects revenue for the year to climb roughly 18.5% when adjusting for fluctuations in currencies

PayPal shares slumped 5% in the latest New York trading session after warning earlier this week that eBay is moving payments off its platform faster than the technology giant originally anticipated.

That’s hindering revenue, which climbed just 17% to $6.2bn (€5.2bn), missing the average of analysts’ estimates and below the forecast the company set just three months ago. PayPal said it expects revenue in the third quarter of as much as $6.25bn.