PayPal profit slumps as COVID-19 weighs on spending <!-- no image --> <div>Payment processor Paypal Holdings Inc reported an 87.4% slump in first-quarter profit on Wednesday, as consumers spent less due to the COVID-19 lockdowns and unemployment numbers surged.<div class="feedflare"> <a href="http://feeds.reuters.com/~ff/reuters/UKBankingFinancial?a=EokTPDnV4h8:_FxNT7qYYSM:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/reuters/UKBankingFinancial?d=yIl2AUoC8zA" border="0"></a> <a href="http://feeds.reuters.com/~ff/reuters/UKBankingFinancial?a=EokTPDnV4h8:_FxNT7qYYSM:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/reuters/UKBankingFinancial?i=EokTPDnV4h8:_FxNT7qYYSM:V_sGLiPBpWU" border="0"></a> <a href="http://feeds.reuters.com/~ff/reuters/UKBankingFinancial?a=EokTPDnV4h8:_FxNT7qYYSM:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/reuters/UKBankingFinancial?i=EokTPDnV4h8:_FxNT7qYYSM:F7zBnMyn0Lo" border="0"></a> </div><img src="http://feeds.feedburner.com/~r/reuters/UKBankingFinancial/~4/EokTPDnV4h8" height="1" width="1" alt=""></div> Posted by Reuters