PayPal Surges After Posting Huge Fourth Quarter
The stock price of PayPal Holdings (NASDAQ: PYPL) was up over 6% in early trading Thursday morning after the digital and mobile payments leader posted blowout earnings for the fourth quarter.
Net income jumped 209% in the fourth quarter year over year to $1.56 billion, or $1.32 per share. Operating income climbed 21% in the quarter to $963 million, while net revenue soared 23% to $6.12 billion.
In the fourth quarter, PayPal saw total payment volume (TPV) increase 39% year over year to $277 billion. The mobile payments app Venmo processed $47 million in TPV in the quarter, a 60% year over year increase. Further, the company added 16 million net new accounts.
Source Fool.com
