Three companies that posted quarterly earnings yesterday are now on sale. PayPal (PYPL), Pfizer (PFE), and Merck (MRK) fell after disappointing investors. PayPal posted revenue of $8.4 billion (+5% Y/Y). However, payment transactions per active account on a trailing 12-month basis grew by 3% to 60.6. Investors did not like the 20% net income decline to $1.1 billion, …
Read More »PayPal to pay $2 million settlement over 2022 data breach
New York State has announced a $2,000,000 settlement with PayPal over charges it failed to comply with the state’s cybersecurity regulations, leading to a 2022 data breach. The Department of Financial Services (DFS) action says that threat actors took advantage of security gaps in PayPal’s systems to conduct credential stuffing attacks that provided access to sensitive customer information. In 2023, PayPal …
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