PayPal posts $81M Q2 crypto loss as core business beats estimates

PayPal (PYPL) said it posted an $81 million loss in its cryptocurrency segment in the second quarter, following a $74 million loss in the first quarter and extending losses through the first half of the year, according to U.Today. In its quarterly earnings report, PayPal said the crypto segment is separated from operating expenses and does not affect core operating costs. Despite the net loss in crypto, payment-related revenue from Venmo and the PYUSD stablecoin increased, helping total revenue reach $8.68 billion, above estimates, while net income came to $1.104 billion.