8 357
Fashion Jobs
SHINE
Senior Account Manager - Paid Search
Permanent · CHENNAI
SHINE
Social Media & Ecommerce Manager
Permanent · HYDERABAD
BENCHMARK SERVICES
Area Sales Manager - Sme Lap With Top Nbfc Company
Permanent · AHMEDABAD
GENIUS CONSULTANTS
Opening For Territory Sales Manager OR Area Business Manager
Permanent · NASHIK
TALISMAN HR SOLUTIONS
Area Sales Manager (Transportation & Logistics Company)
Permanent · AHMEDABAD
AUXIN RECRUITMENT CONSULTANTS
Area Sales Manager | Lap | Hyderabad
Permanent · HYDERABAD
BERGER PAINTS
Area Sales Manager Wood Coating
Permanent · ROHTAK
360 REALTORS
Hiring -Team Leader/ Sales Manager / Relationship Manager| Pune
Permanent · PUNE
LEVI'S
Senior Supply Planner
Permanent · BENGALURU
ADIDAS
Manager -Tech Infrastructure
Permanent · CHENNAI
ADIDAS
Senior Specialist - Finance Operations FP&A
Permanent · CHENNAI
ADIDAS
sr. Manager Merchandising Ecommerce - em Hub
Permanent · GURUGRAM
ADIDAS
sr. Manager- DPC Partner Program
Permanent · GURUGRAM
L'OREAL GROUP
Online Brand Manager
Permanent · MUMBAI
L'OREAL GROUP
Retail And Education Manager - Ysl
Permanent · MUMBAI
JCPENNEY
Senior Manager
Permanent · BENGALURU
DAMYAA PJ FOODS
Area Sales Manager/Regional Sales Manager
Permanent · ROHTAK
ON TIME SOLUTIONS
Branded Fmcg Company Opening For Area Sales Manager in North Kerala
Permanent ·
HECTOR AND STREAK CONSULTING
Sales Engineer / am / Manager - Ups
Permanent · MUMBAI
HDFC LIFE
Hiring For Associate Area Manager-Abp Channel
Permanent ·
SAHAJ PHARMA
Production in Charge - (Synthetic Iron Oxide Pigment)
Permanent · DAHEJ
STONELAM SURFACES LLP
Area Sales Manager- Project Sales
Permanent · CHENNAI
By
Reuters
Published
Apr 27, 2018
Reading time
2 minutes
Download
Download the article
Print
Text size

PayPal quarterly profit beats estimates, shares rise

By
Reuters
Published
Apr 27, 2018

PayPal Holdings Inc on Wednesday reported first-quarter profit that beat Wall Street estimates as the payment processor benefited from higher volumes of mobile payments and strong merchant services business.


Mobile payment volumes were up 52 percent in the quarter to $49 billion - Reuters


PayPal processed $132 billion in payments in the first quarter of 2018, up 32 percent from a year earlier.

Mobile payment volumes were up 52 percent in the quarter to $49 billion, while merchant services payment volumes grew 30 percent and accounted for 87 percent of total payment volumes.

Shares of the company, which closed down 1.7 percent, rose 3.3 pct to $76.43 after the bell.

“Overall we believe this was a solid quarter for PayPal,” Josh Olson, a senior analyst at Edward Jones Research, said in a note. “As the digital payments leader, we see PayPal benefiting from the fast-growing industry.”

Since separating from online marketplace eBay in 2015, PayPal has reshaped itself from mostly processing transactions for its parent company to offering an array of global digital payment services.

These range from small business lending to facilitating money transfers between merchants and customers, as well as friends and family.

The company has sought to grow through acquisitions and partnerships with large banks and technology firms including Bank of America Corp, JPMorgan Chase & Co, Apple Inc and Facebook Inc.

PayPal recently introduced a Mastercard payments card to enable customers to spend their PayPal balance in millions of physical stores and partnered with popular Kenyan mobile payments service M-pesa.

“We are clearly transforming from a payments button to an open digital payments platform,” CEO Dan Schulman said on an earnings call with analysts.

“The goal of that platform is to enable merchants to compete in the mobile, digital payments world,” Schulman added in an interview.

Venmo, the company’s peer-to-peer payments app, processed more than $12 billion in payments in the quarter up 80 percent over the same period last year.

The San Jose, California based company raised revenue forecast for the full year to $15.2 billion to $15.4 billion from $15 billion to $15.2 billion.

Net income rose to $511 million, or 42 cents per share, in the quarter ended March 31, from $384 million, or 32 cents per share, a year earlier.

Excluding one-time items, the company earned 57 cents per share, beating the average analyst estimate of 54 cents, according to Thomson Reuters I/B/E/S.

Net revenue rose about 24 percent to $3.69 billion, beating expectations of $3.59 billion.

© Thomson Reuters 2024 All rights reserved.