PayPal Posts Double Digit Growth in Transaction, Payments Volume


SAN JOSE, Calif.—PayPal has posted third quarter results that show double-digit growth in overall transaction volume and payments volume, and high single-digit boosts in the number of payments per active account.

The company earned $.58, beating projections by $.04. Revenues were up 14% to $3.7 billion, which was better than Wall Street predicted by around $20 million, reported.

The company quickened its pace of active accounts added at 9.1 million in the latest quarter, better than the same metric of 8.2 million accounts added in the year-ago period. The company ended the latest period with 254 million active accounts, which represents 15% growth year on year, noted.

Total payment transactions stood at 2.5 billion, which marked a 27% gain, and were nearly paced by $143 billion logged in total payments volume, which were up 25% on an FX neutral basis. Transactions per active account, said the company, were up 9.5% on a trailing 12-month basis to 36.5 payments per account.

Within the total payments volume, person-to-person (P2P) volumes were up more than 50% to $36 billion. Transactions done across the Venmo app were $16.7 billion, gaining 78% year on year, said.

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Copyright Year: 2019
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