PayPal closes a good 3rd quarter

The online payment platform has increased its turnover by 19% and the total number of users reaching 295 million.

PayPal has achieved a third quarter higher than analyst expectations since the company announced $ 4.38 billion in sales, which represents an annual increase of 19%. Net income was $ 462 million (+ 6%) with earnings per share (non-GAAP) of $ 0.61. Wall Street expected revenue of $ 4.35 billion and earnings per share of $ 0.52. 

PayPal points out that this quarter was the first in which it had logged more than one billion transactions per month. The platform handled $ 179 billion worth of transactions in these three months, and $ 3.1 billion in payment transactions were processed, representing approximately 39.8 transactions for each active account. In addition, PayPal recruited 9.8 million new users over the period, bringing the total to 295 million (+ 16%). For the current quarter, the company announces a turnover between 4.89 and 4.95 billion dollars, with a profit per share between 0.81 and 0.83 dollars.

In early October, PayPal announced that it would enter the Chinese market with a 70% stake in GoPay, becoming the first foreign online payment platform to offer its services in the country. The company also decided to withdraw from the Libra cryptocurrency project initiated by Facebook, imitated shortly thereafter by eBay, Mastercard, Visa, Stripe, Mercado Pago and Booking Holdings. (Eureka Press)

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