PayPal Shares Fall as CEO Cites Softening in US Retail Spending

PayPal Holdings Inc. shares fell the most in almost six months after reporting slower growth in payment volume and company executives said they were seeing softer retail spending as a result of the US tariff wars.

“We did see a slight deceleration” in consumer spending, Chief Financial Officer Jamie Miller said on a call with analysts Tuesday, saying goods made in China were taking a particular hit.

PayPal-branded checkout volume increased by 5% in the quarter, down from a 6% increase in the first three months of the year, PayPal said in a presentation Tuesday. The macroeconomic environment and consumer ...