Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

PayPal revenues miss but growth is strong from new acquisitions

PayPal revenues missed, but strong growth from its recent iZettle and Hyperwallet acquisitions and booming business at Venmo point to a strong outlook for the payments giant.

In all, PayPal saw revenues for the quarter of $4.23 billion against analysts’ estimates of $4.24 billion, according to data from Yahoo Finance. Earnings per share at the company were up to 69 cents versus analysts’ expectations of 62 cents on a non-GAAP basis.

For the full year, PayPal saw revenue hit $15.45 billion versus analysts’ estimates of $15.46 billion.

The addition of 2.9 million net new active accounts resulting from the acquisitions of Hyperwallet and iZettle show how those two deals are already adding value, as PayPal moves to expand internationally and away from its core market in the U.S.

Payment transactions totaled 2.9 billion for the quarter, up 28 percent, and the $164 billion in total payment volume was a 23 percent increase from the year ago period.

“In 2018 we set new benchmarks for the company for revenue, net new active accounts and engagement across our platform. We launched new products, strengthened existing relationships and entered into new strategic partnerships with some of the biggest and most influential global brands in technology, retail and finance,” said Dan Schulman, president and CEO of PayPal. “We greatly expanded our global reach, serving 267 million customer accounts, including 21 million merchant accounts. We believe 2019 will be another strong year for us, and we intend to build on our strengths to extend our leadership as the leading open digital payments platform.”

Other than the additions from the new acquisitions, the other bright spot for PayPal was the volume coming in from its Venmo business. In all, volume of Venmo transactions hit $19 billion, growing by 80 percent, in the fourth quarter. For the year, nearly $62 billion changed hands on the Venmo platform.

Mobile payments were also up for the company. Roughly $67 billion was transacted through mobile devices for the quarter, a 40 percent boost on year-ago numbers.

Despite the generally positive outcomes, PayPal’s stock was down 4.4 percent to $88.11 in after-hours trading on the Nasdaq.

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio
Post a Comment
Read more

Drone crash near kids leads Swiss Post and Matternet to suspend autonomous deliveries

A serious crash by a delivery drone in Switzerland have grounded the fleet and put a partnership on ice. Within a stone’s throw of a school, the incident raised grim possibilities for the possibilities of catastrophic failure of payload-bearing autonomous aerial vehicles. The drones were operated by Matternet as part of a partnership with the Swiss Post (i.e. the postal service), which was using the craft to dispatch lab samples from one medical center for priority cases. As far as potential applications of drone delivery, it’s a home run — but twice now the craft have crashed, first with a soft landing and the second time a very hard one. The first incident, in January, was the result of a GPS hardware error; the drone entered a planned failback state and deployed its emergency parachute, falling slowly to the ground. Measures were taken to improve the GPS systems. The second failure in May, however, led to the drone attempting to deploy its parachute again, only to sever the line
Post a Comment
Read more

How the world’s largest cannabis dispensary avoids social media restrictions

Planet 13 is the world’s largest cannabis dispensary. Located in Las Vegas, blocks off the Strip, the facility is the size of a small Walmart. By design, it’s hard to miss. Planet 13 is upending the dispensary model. It’s big, loud and visitors are encouraged to photograph everything. As part of the cannabis industry, Planet 13 is heavily restricted on the type of content it can publish on Instagram, Facebook and other social media platforms. It’s not allowed to post pictures of buds or vapes on some sites. It can’t talk about pricing or product selection on others.   View this post on Instagram   A post shared by Morgan Celeste SF Blogger (@bayareabeautyblogger) on Jan 25, 2020 at 7:54pm PST Instead, Planet 13 encourages its thousands of visitors to take photos and videos. Starting with the entrance, the facility is full of surprises tailored for the ‘gram. As a business, Planet 13’s social media content is heavily restricted and monito
3 comments
Read more