PayPal Posts Strongest Quarterly Growth in Company History
PayPal Holdings (NASDAQ: PYPL) reported its third-quarter results after the market close on Monday, and it soared past already bullish estimates on Wall Street. This marks the second consecutive quarter of record-setting results for the company.
The digital payment processor reported record revenue of $5.46 billion, up 25% year over year, easily topping management's guidance for 23% growth. Profits were even more robust, with earnings per share of $0.86, soaring 121%, while adjusted EPS climbed 41%. Operating cash flow grew to $4.61 billion, up 40% year over year. Free cash flow also moved higher, climbing 43% to $3.97 billion.
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Source Fool.com
