Why Did PayPal Stock Jump Today?

Core Insights - PayPal's shares increased by 3.9% following the release of its third-quarter earnings, outperforming Wall Street expectations [1] - The company reported adjusted earnings per share (EPS) of $1.34 on sales of $8.4 billion, exceeding consensus estimates of $1.20 EPS on $8.2 billion in sales [2] - A significant partnership with OpenAI was announced, allowing ChatGPT users to pay using their PayPal wallets [3] Financial Performance - PayPal's Q3 adjusted EPS was $1.34, surpassing the expected $1.20, while sales reached $8.4 billion, above the forecast of $8.2 billion [2] - The company declared its first-ever dividend of 14 cents per share [2] Strategic Partnerships - PayPal has partnered with OpenAI to integrate its payment systems into the ChatGPT interface, enabling users to make purchases directly through the AI tool [3] - CEO Alex Chriss highlighted that this integration will provide a secure checkout experience for "hundreds of millions of loyal PayPal wallet holders" [4] Market Reaction - Following the earnings report and partnership announcement, PayPal's stock experienced a spike of up to 12.8% during the trading day [1] - The overall market saw modest gains, with the S&P 500 and Nasdaq Composite increasing by 0.2% and 0.8%, respectively [1]