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May 5, 2021Blog Posts

PayPal CEO touts ‘next generation digital wallet’ after earnings beat

PayPal shares rose as much as 5.5% in extended trading on Wednesday after reporting first-quarter earnings that were stronger than analysts had expected.

Here’s how the company did:

  • Earnings per share: $1.22, adjusted, vs. $1.01 per share expected in a Refinitiv survey of analysts
  • Revenue: $6.03 billion vs. $5.90 billion expected by Refinitiv
  • Total payment volume: $285 billion vs. $265 billion expected in a FactSet survey

First quarter net profit rose to $1.10 billion from $84 million a year earlier, and the company added 14.5 million net new active accounts, bringing its total user base to 392 million.

Revenue grew 31% year over year in the quarter that ended Mar. 31, according to a statement. In the year-ago quarter, the pandemic fomented a surge in online shopping, helping to drive record payment volume for the quarter and the full year.

On the company’s earnings call, CEO Dan Schulman pointed to cryptocurrency as a key growth engine for the company.

PayPal Logo | Symbol, History, PNG (3840*2160)

Source

TSG’s Directory of U.S. Merchant Acquirers, sponsored by FIS, the most comprehensive report available on U.S. merchant acquirers, featuring over 8,500 data points on more than 325 companies; covering national leaders to regional ISOs.

The Directory includes a printable snapshot providing a quick reference guide for executives to review merchant portfolio statistics. Additionally, high growth acquirers that reported 10% or more growth in volume, transactions, or merchants from 2019-2020 are identified.

No other industry directory contains the level of detail provided, which is why it is utilized as a reference tool by major media and payments players worldwide.

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