PayPal Has Plenty of Dancing Partners and Investors Should Be Thrilled
Investors have come to expect consistent growth from PayPal Holdings Inc (NASDAQ: PYPL) and it did not disappoint when it recently reported its third quarter results. Not only did the company surpass analyst expectations and raise guidance for the remainder of the year, it also crossed a couple of major company milestones for good measure.
Revenue increased 18% to $3.14 billion and non-GAAP earnings per share increased 27% to $0.46. The company reported 210 million active accounts, up seven million from just last quarter and a 12% increase year over year. Total payment volume increased to more than $106 billion, a 26% increase year over year once. The results marked the first time PayPal ever recorded at least $3 billion in revenue and more than $100 billion in total payment volume in a single quarter.
After reviewing the conference call transcript provided by S&P Global Market Intelligence, one overriding theme stands out: PayPal is offering its customers more choices than ever before and consumers are responding. It's a simple formula that might drive growth for the company's core payment platform for years to come.
Source: Fool.com
Paypal Holdings Inc Stock
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