PayPal easily beat quarterly estimates for earnings and sales and issued solid guidance, but it wasn’t enough to boost the stock.The fintech stock fell 11% to $79.35 on Tuesday, and was on pace for its largest daily percentage decrease in nearly a year,

PayPal (PYPL) stock plunged as the company reported a decline in payment transactions, despite earnings beating on both the top and bottom

"Expectations likely ran ahead of themselves," said Mizuho analyst Dan Dolev in response to the market's initial reaction to PayPal's earnings report. "We are not concerned," Dolev added, noting that PayPal’s "branded button has been consistently growing in line with its major merchant partners."