Why PayPal Holdings, Inc. Stock Popped 13.3% in October

Why PayPal Holdings, Inc. Stock Popped 13.3% in October

Shares of PayPal Holdings (NASDAQ: PYPL) jumped 13.3% in October, according to data from S&P Global Market Intelligence, after the payment-technology leader released strong third-quarter 2017 results and boosted its full-year guidance.

PayPal stock jumped more than 6% on Oct. 20 alone, when the company revealed that its quarterly revenue had climbed 21.3%, to $3.24 billion. That translated to 31% growth in adjusted net income to $560 million, or $0.46 per diluted share. Both figures comfortably topped Wall Street's consensus estimates. which called for adjusted earnings of $0.43 per share on revenue of $3.18 billion.

IMAGE SOURCE: PAYPAL.

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Source: Fool.com