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PayPal sees 24% revenue growth in its latest quarter


paypal mobile app 2017 - PayPal sees 24% revenue growth in its latest quarter

PayPal impressed Wall Street when it reported fourth-quarter earnings after the bell on Wednesday. The global payments giant beat analyst expectations for both sales and profit.

PayPal reported $3.71 billion in revenue on a foreign-exchange neutral basis, or 24% growth from the same period last year. Analysts were expecting $3.63 billion in revenue for the quarter.

Adjusted earnings per share were 55 cents, compared to the 52 cents that Wall Street forecast.

The company processed $131 in total payments volume for the fourth quarter, showcasing 32% growth.

PayPal separated from eBay in 2015 and is currently the larger of the two companies, with a market cap of $103 billion. eBay is valued at $42 billion.

The two companies agreed to extend their partnership through July 2023, making PayPal the default payment option for eBay.

 

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Updated: January 31, 2018 — 9:31 pm

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