PayPal beats earnings, but revenue slightly short, focusing on growth and monetization

From CNBC: 2024-10-29 08:12:38

PayPal exceeded third-quarter earnings expectations, but revenue fell slightly short. Revenue rose 6% to $7.85 billion from $7.42 billion a year ago. CEO Alex Chriss has focused on growth and monetization, resulting in a 36% stock increase. Total payment volume increased 9% to $422.6 billion. PayPal projects low single-digit growth for Q4.

With a focus on profitable growth, PayPal’s operating margin beat expectations at 18.8%. Total active accounts reached 432 million. While the take rate declined, transaction margin increased to 46.6%. PayPal expects adjusted earnings per share of $1.07 to $1.11 for the fourth quarter. Chriss launched Fastlane for one-click online payments.

Venmo experienced an 8% increase in total payment volume. Businesses like DoorDash, Starbucks, and Ticketmaster now accept Venmo payments. PayPal continues to innovate with new product launches and partnerships. PayPal will host an earnings call for analysts at 8 a.m. Eastern time.



Read more at CNBC:: PayPal (PYPL) Q3 2024 earnings