PayPal Holdings, Inc. (PYPL - Free Report) just released its third-quarter 2017 financial results, posting earnings of $0.46 per share and revenues of $3.24 billion. Currently, PYPL is a Zacks Rank #1 (Strong Buy) and is up 3.79% to $69.80 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.44 per share.
Beat revenue estimates. The company saw revenue figures of $3.24 billion, topping our consensus estimate of $3.17 billion.
PayPal’s revenue grew 21% in its third-quarter, while earnings jumped 31%. The company processed a total of $114 billion worth of payments in the quarter, and nearly 35% of the volume came from mobile—which rose 54% year-over-year to $40 billion.
The company’s person-to-person payment volume soared 47% to reach $24 billion. The company’s popular P2P app, Venmo, processed roughly $9 billion in payments, which marked a massive 93% increase.
For its current quarter, PayPal now expects to post earnings between $0.50 per share and $0.52 per share. The company projects full-year EPS to range between $1.86 and $1.88.
"PayPal delivered one of its strongest quarters since becoming an independent company. Putting our customers first in everything we do, enhancing our suite of products and services, and partnering with some of the world's most popular brands are delivering tangible results," PayPal President and CEO Dan Schulman said in a statement.
"In addition to our solid financial performance, we also reported record customer growth with the addition of 8.2 million net new actives. As the world rapidly accelerates to digital payments, we have a tremendous opportunity in front of us."
Here’s a graph that looks at PYPL’s Price, Consensus and EPS Surprise history:
PayPal Holdings, Inc. is a technology platform company. The Company offers online payment solution which allows customers to pay and get paid, withdraw funds to their bank accounts and hold balances in their PayPal accounts in various currencies. It payment platform includes PayPal, PayPal Credit, Venmo and Braintree products. PayPal Holdings, Inc. is based in San Jose, California.
Check back later for our full analysis on PYPL’s earnings report!
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