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On Thursday, beating market estimates. The San Jose, Calif.-based payments company reported net income of $ 694 million, or 36 cents per share.
Non-GAAP earnings were 58 cents per share on revenue of $ 3.68 billion, up 14 percent year over year. Wall Street was looking for 54 cents per share on revenue of $ 3.66 billion.
In terms of outlook, analysts are expecting revenue of $ 4.21 trillion with earnings of 65 cents a share. Q4 revenue was $ 4.19 billion to $ 4.27 billion, with earnings between 65 cents and 67 cents a share.
Elsewhere on the balance sheet, the company grew by 25 million active accounts, up from 218 million the year prior.
PayPal says it processed $ 143 billion in total payment volume during the quarter. 36.5 payment transactions for each active account.
PayPal's social payments platform is more than $ 17 billion in TPV, up 78 percent over the same period last year. The company said P2P payments volume increased 50 percent to $ 36 billion, and represented approximately 24 percent of TPV. Mobile payments were also strong, as the company said it was approximately $ 57 billion in the third quarter, accounting for growth of around 45 percent year over year.
Outside of financials, PayPal highlighted the closure of its Q3, along with its partnership with Walmart to offer in-store balances and deposits.
"New partnerships with American Express and Walmart will increase the value that we can offer to our customers," said PayPal CEO Dan Schulman. "Our strong balance sheet and cash flow enable us to aggressively invest in innovation and growth, creating sustainable and long-term value for our shareholders."
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