PayPal Q317 earnings results beat expectations
PayPal has exceeded expectations with its recent reports on earnings and success. For PayPal Q317 has seen both progress and profits, and a significant leap subsequently in the share price. And don’t forget that already this year the stock has appreciated by 75%.
As Reuters noted: “Since separating from online marketplace eBay Inc. in 2015, PayPal has reshaped itself from a company that mostly processed transactions for its parent to a payments giant that handles money transfers between other companies and customers, as well as friends, roommates, overseas relatives and small businesses.”
PayPal CEO Dan Schulman said: “PayPal delivered one of its strongest quarters since becoming an independent company. Putting our customers first in everything we do, enhancing our suite of products and services, and partnering with some of the world’s most popular brands are delivering tangible results. In addition to our solid financial performance, we also reported record customer growth with the addition of 8.2 million net new actives. As the world rapidly accelerates to digital payments, we have a tremendous opportunity in front of us.”
So what do the numbers look like?
– 8.2 million active customer accounts added, with net new actives up 88%
– 218 million active customer accounts, with more than 17 million merchant accounts
– 1.9 billion payment transactions, up 26%
– 32.8 payment transactions per active account on a trailing twelve months basis, up 9%
– $114 billion in total payment volume (TPV), up 30%, or 29% on an FX-neutral basis
There are several drivers behind the PayPal Q317 growth that’s been reported. PayPal’s diversification beyond eBay has been prolific and successful. Partnerships have been a rich seam of development too and now include MasterCard, Visa, JPMorgan, Google, Apple, Skype and Microsoft.
Don’t forget also that PayPal also owns Xoom and millennial payments favourite Venmo. PayPal presides over an enviable payments portfolio that does also include the tasty eBay marketplaces income as they continue to be the sole payments processor there.
I love PayPal
They’re easy to use and my funds are available instantly. I send money to friends, uk suppliers and suppliers in china no probs
They’ve protected me against several chargebacks where I’ve entered tracking
It’s ebay that doesn’t understand its customers and is getting more and more expensive for less in return.
PayPal and promoting my website in google and social media seems the only viable future for my biz, can’t bring myself to reopen an eBay store.