During the pandemic, digital-payment companies like PayPal thrived as consumers turned to online transactions. PayPal's revenue increased significantly over the past two years. However, as pandemic restrictions eased, the fintech company's stock growth slowed due to rising competition in the digital payment space. Investors' and PayPal's expectations for continued e-commerce growth were unmet. PayPal's total payment volume has continued to grow, but its stock growth has slowed. CEO Dan Schulman remains optimistic and says they can control their spending and its impact on earnings growth.