PayPal surges 14% to an all-time high after reporting record day of transactions that surpassed last year's Black Friday and Cyber Monday (PYPL)

Associated Press/Thomas White/Reuters

• PayPal surged 14% to an all-time high on Thursday after announcing that May 1 saw a record day of transactions that surpassed last year's Black Friday and Cyber Monday.
• The company reported fiscal first quarter earnings that missed analyst estimates.
• Despite the earnings miss, commentary from CEO Dan Schulman revealed a surge in user engagement and new active users as people across the country are flocking to digital payments amid the coronavirus pandemic.
• Visit Business Insider's homepage for more stories.

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PayPal surged to an all-time high on Thursday after revealing that the company saw a record day of transactions on May 1, surpassing last year's most popular shopping days Black Friday and Cyber Monday.

Additionally, PayPal's Venmo app saw its highest day ever of transactions on May 1.See the rest of the story at Business Insider

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