PayPal tops Wall Street estimates on higher customer traffic, shares rally




PayPal tops Wall Street estimates on higher customer traffic, shares rally


(Reuters) - PayPal Holdings Inc (O:PYPL) reported a better-than-expected quarterly profit on Wednesday as more people used its payment processing platform to make transactions and forecast full-year adjusted profit above Wall Street estimates.

Shares of the San Jose, California-based company were up 8.3% in extended trading.

The company, which separated from eBay Inc (O:EBAY) in 2015, has made a number of acquisitions since then to expand its business.

PayPal, which facilitates payments on apps like Uber (NYSE:UBER), eBay, Hulu and Spotify (NYSE:SPOT), reported a 19% rise in its revenue at $4.38 billion, above analysts' expectations of $4.35 billion, according to IBES data from Refinitiv.

Total payment volume (TPV), or the value of payments completed through PayPal's platform, rose 25% to $178.67 billion, beating estimates of $177.32 billion.

Number of payment transactions per active account that measures consumer engagement also rose 9% to 39.8.

Net income rose to $462 million, or 39 cents per share, in the quarter ended Sept 30, from $436 million, or 36 cents per share, a year earlier.

Excluding one-time items, the company earned 61 cents per share, beating analysts' average estimates of 52 cents.

PayPal expects 2019 adjusted profit between $3.06 and $3.08 per share. Analysts were expecting $2.97 per share.





Related News

U.S. to begin second round of trade aid payments for farmers next week
Today, 21:24
CHICAGO (Reuters) - The U.S. Department of Agriculture said on Friday it will begin making a second round of 2019 trade aid payments to U.S. farmers next week. The payments are the second part of a three-tranche $16 billion aid package announced in
Canadian National Railway to layoff 1,600 workers: Globe and Mail
Today, 21:21
(Reuters) - Canadian National Railway will lay off 1,600 employees in the United States and Canada, the Globe and Mail reported https://tgam.ca/32Sek26 on Friday. The layoffs will affect managers, office employees and unionized rail workers in a
Trump, Apple CEO Tim Cook set to tour computer plant in Texas Wednesday: sources
Today, 21:18
By David Shepardson and Alexandra Alper WASHINGTON (Reuters) - U.S. President Donald Trump and Apple (NASDAQ:AAPL) CEO Tim Cook are set to visit facilities in Texas on Wednesday where Apple's high-end computers are assembled, sources briefed on
Fed says U.S. financial system resilient; flags low rates, 'stablecoin' as risks
Today, 21:15
By Howard Schneider and Pete Schroeder WASHINGTON (Reuters) - The U.S. Federal Reserve on Friday flagged high levels of corporate debt, the impact of an extended period of low global interest rates, and emerging "stablecoin" cryptocurrency
Oklahoma judge reduces Johnson & Johnson payout in opioid case to $465 million
Today, 21:12
(Reuters) - An Oklahoma judge on Friday said Johnson & Johnson (N:JNJ) needs to pay only $465 million of the $572 million he previously concluded it owed the state for fueling the opioid epidemic through deceptive marketing of painkillers. The



Latest News
U.S. to begin second round of trade aid payments for farmers next week
15.11.2019 21:24
CHICAGO (Reuters) - The U.S. Department of Agriculture said on Friday it will begin making a second round of 2019 trade aid payments to U.S. farmers next week. The payments are the second part of a three-tranche $16 billion aid package announced in May to compensate farmers for the U.S.-China trade war. China imposed tariffs on key U.S.
Read more
Canadian National Railway to layoff 1,600 workers: Globe and Mail
15.11.2019 21:21
(Reuters) - Canadian National Railway will lay off 1,600 employees in the United States and Canada, the Globe and Mail reported https://tgam.ca/32Sek26 on Friday. The layoffs will affect managers, office employees and unionized rail workers in a range of positions across the largest Canadian railroad operator's network, the newspaper
Read more
Trump, Apple CEO Tim Cook set to tour computer plant in Texas Wednesday: sources
15.11.2019 21:18
By David Shepardson and Alexandra Alper WASHINGTON (Reuters) - U.S. President Donald Trump and Apple (NASDAQ:AAPL) CEO Tim Cook are set to visit facilities in Texas on Wednesday where Apple's high-end computers are assembled, sources briefed on the matter confirmed Friday. Reuters reported on Tuesday that the trip was planned for next week to
Read more
Fed says U.S. financial system resilient; flags low rates, 'stablecoin' as risks
15.11.2019 21:15
By Howard Schneider and Pete Schroeder WASHINGTON (Reuters) - The U.S. Federal Reserve on Friday flagged high levels of corporate debt, the impact of an extended period of low global interest rates, and emerging "stablecoin" cryptocurrency proposals as potential risks to the financial system. In its latest twice-yearly review of
Read more
Oklahoma judge reduces Johnson & Johnson payout in opioid case to $465 million
15.11.2019 21:12
(Reuters) - An Oklahoma judge on Friday said Johnson & Johnson (N:JNJ) needs to pay only $465 million of the $572 million he previously concluded it owed the state for fueling the opioid epidemic through deceptive marketing of painkillers. The ruling by Cleveland County District Judge Thad Balkman in Norman, Oklahoma, came in the first case to
Read more