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4-Traders Homepage  >  Equities  >  Nasdaq  >  PayPal Holdings    PYPL

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PayPal's profit, revenue beat on higher processing volumes

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04/26/2017 | 10:42pm CEST
The PayPal logo is seen during an event at Terra Gallery in San Francisco

Payment processor PayPal Holdings Inc (>> Paypal Holdings Inc) reported higher-than-expected quarterly profit and revenue on Wednesday, helped by an increase in payment processing volumes and customer additions.

Payment processor PayPal Holdings Inc (>> Paypal Holdings Inc) reported higher-than-expected quarterly profit and revenue on Wednesday, helped by an increase in payment processing volumes and customer additions.

The company, which also raised its full-year profit forecast to $1.28-$1.33 per share from $1.26-$1.31, said its board authorized a $5 billion share buyback program.

PayPal's shares jumped nearly 7 percent to $47.45 in after-hours trading.

The San Jose, California-based company has been expanding partnerships and acquiring new services to gain advantage over rivals in a highly competitive digital payments market.

PayPal struck a deal with Alphabet Inc's Google (>> Alphabet Inc) last week in a move to bring its payment wallet to brick-and-mortar stores.

Consumers will be able to use their PayPal accounts with Google's mobile payments platform Android Pay at retailers such as WalGreens Boots (>> Walgreens Boots Alliance Inc) and Dunkin' Donuts (>> Dunkin Brands Group Inc).

PayPal, which spun off from e-commerce firm eBay Inc (>> eBay Inc) in 2015, also agreed to buy Canadian bill payment processor TIO Networks Corp (>> TIO Networks Corp) for about $233 million in February.

The company's net income rose to $384 million, or 32 cents per share, in the first quarter ended March 31, from $365 million, or 30 cents per share, a year earlier.

On an adjusted basis, PayPal earned 44 cents per share, above the average analyst estimate of 41 cents, according to Thomson Reuters I/B/E/S.

Revenue rose to $2.98 billion from $2.54 billion, beating analysts' average estimate of $2.94 billion.

PayPal's total payments volume jumped 22.5 percent to $99.33 billion, beating research firm FactSet StreetAccount's estimate of $99.20 billion.

Active customer accounts rose 10.3 percent to 203 million.

PayPal's mobile payments volume rose 51 percent to about $32 billion in the quarter. Payment volumes at Venmo, a mobile peer-to-peer payment platform popular with younger customers, more than doubled to $6.8 billion in the first quarter.

Up to Wednesday's close, the company's stock had risen 12.5 percent since the start of the year.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Martina D'Couto)

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Financials ($)
Sales 2017 12 712 M
EBIT 2017 2 608 M
Net income 2017 1 598 M
Finance 2017 5 038 M
Yield 2017 -
P/E ratio 2017 38,78
P/E ratio 2018 30,91
EV / Sales 2017 4,59x
EV / Sales 2018 3,80x
Capitalization 63 342 M
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Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 53,0 $
Spread / Average Target 0,51%
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NameTitle
Daniel H. Schulman President, Chief Executive Officer & Director
John J. Donahoe Chairman
William J. Ready Chief Operating Officer & Executive Vice President
John D. Rainey Chief Financial Officer & Executive Vice President
Sri Shivananda Chief Technology Officer & Senior Vice President
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