PayPal beats Wall St. estimate on higher traffic, shares soar


PayPal beats Wall St. estimate on higher traffic, shares soar

On Wednesday, the 23rd of October 2019, US-based multinational payment processor, PayPal Holdings Inc., headquartered in San Jose, California, had reported a better-than-anticipated quarterly earnings’ for Q3, 2019, while the payment processing platform had also raised its full-year profit forecast above Wall Street estimates.

Aside from that, according to PayPal Holding Inc.’s quarterly earnings’ revealed on Wednesday (October 23rd), the San Jose, CA-based payment processor that has been facilitating payments on apps such as eBay, Uber, Hulu alongside Spotify, had scored a 19 per cent surge in its revenue to $4.38 billion, beating an analysts’ estimate of $4.35 billion, IBES data from Refinitiv had revealed.

Besides, total payment volume processed through the payment processing platform climbed 25 per cent to $178.67 billion, beating an earlier projection of $177.32 billion, while net operating profit of PayPal Holdings Inc.

rose by 39 cents per share to $462 million during the quarter that ended on September 30th, from 36 cents per share or $436 million at the same time a year earlier. Meanwhile, the San Jose-based payment processing platform that serves as an electronic alternative to traditional pen-and-paper transactions such as money orders, has been expecting its 2019 profit to rise between $3.06 and $3.08 per share, while analysts had projected a rise of $2.97 per share earlier in the year.

On top of that, followed by a robust quarterly earnings’ report, NYSE-listed shares of PayPal Holdings Inc, mushroomed more than 8.15 per cent to $105.65 in extended trading on Wednesday (October 23rd).

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