logo
Plus   Neg
Share
Email

PayPal Q3 Profit Tops Estimates, Revenue Up 19%; Shares Surge - Quick Facts

PayPal Holdings, Inc. (PYPL) reported that its third-quarter non-GAAP earnings per share increased 5 percent year-on-year to $0.61, which includes net unrealized loss of $0.15 per share from strategic investments. Excluding the impact of unrealized losses, non-GAAP earnings per share was $0.76, up 31 percent. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.52, for the quarter. Analysts' estimates typically exclude special items.

Third-quarter revenue was $4.38 billion; up 19 percent on both a spot and foreign currency-neutral (FX-neutral or FXN) basis. Analysts expected revenue of $4.35 billion for the quarter. The company recorded $179 billion in total payment volume, up 25 percent, or 27 percent on an FX-neutral basis.

For the third-quarter, the company recorded 9.8 million net new active accounts, bringing total active accounts to 295 million accounts, up 16 percent. PayPal reported 3.1 billion payment transactions, up 25 percent.

For fiscal 2019, PayPal expects: non-GAAP earnings per diluted share in the range of $3.06 - $3.08; and revenue to grow approximately 15 percent at current spot rates and approximately 15 percent on an FX-neutral basis, to a range of $17.70 - $17.76 billion. Analysts expect the company to report profit per share of $2.96 on revenue of $17.72 billion.

For the fourth quarter, PayPal expects: non-GAAP earnings per diluted share in the range of $0.81 - $0.83; and revenue to grow 16 percent - 17 percent at current spot rates and 17 percent - 18 percent on an FX-neutral basis, to a range of $4.89 - $4.95 billion. Analysts expect the company to report profit per share of $0.81 on revenue of $4.94 billion.

Shares of PayPal Holdings were up more than 8% after hours.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Twitter could face a fine of up to $250 million from the U.S. Federal Trade Commission regarding its use of phone numbers and email addresses to target advertisements. Lord & Taylor joined the growing list of U.S. retailers who filed for bankruptcy amid the coronavirus pandemic. Lord & Taylor, one of the oldest department store chains in the U.S., filed for bankruptcy protection in the Eastern Court of Virginia on Sunday. The company operated 38 stores that have remained temporarily closed since March this year due to the pandemic. Thomson International Inc. is recalling Red, Yellow, White, and Sweet Yellow Onions for potential contamination with Salmonella, according to a statement by the U.S. Food and Drug Administration or FDA. The onions are in distribution since May 1, 2020. They were sold to wholesalers, restaurants, and retail stores in all 50 U.S. states, the District of Columbia and Canada.
Follow RTT