Money: PayPal quarterly profit beats estimates, shares rise - PressFrom - United Kingdom
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MoneyPayPal quarterly profit beats estimates, shares rise

03:20  19 october  2018
03:20  19 october  2018 Source:   reuters.com

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PayPal Holdings Inc on Thursday reported a third- quarter profit that beat analysts' estimates as the company signed up more new customers and volume of REUTERS/Thomas White/Illustration. Net income rose to 6 million, or 36 cents per share , in the third quarter , from 0 million, or 31 cents

PayPal Holdings Inc on Wednesday reported first- quarter profit that beat Wall Street estimates as the payment processor benefited from higher volumes of mobile payments and strong merchant services business. PayPal processed 2 billion in payments in the first quarter of 2018, up 32 percent from

PayPal quarterly profit beats estimates, shares rise © REUTERS/Thomas White/Illustration Illustration photo of the PayPal app on a phone

By Anna Irrera

PayPal Holdings Inc (PYPL.O) on Thursday reported a third-quarter profit that beat analysts' estimates as the company signed up more new customers and volume of payments processed rose.

Net income rose to $436 million, or 36 cents per share, in the third quarter, from $380 million, or 31 cents per share, a year earlier. Revenue rose to $3.68 billion from $3.24 billion.

Excluding one-time items, the company earned 58 cents per share, beating the average analyst estimate of 54 cents, according to Refinitiv.

For the fourth quarter, PayPal expects revenue between $4.20 billion and $4.28 billion, in line with analysts' estimates of $4.21 billion estimate.

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PayPal Holdings Inc on Wednesday reported first- quarter profit that beat Wall Street estimates as the payment processor benefited from higher volumes of Mobile payment volumes were up 52 percent in the quarter to billion, while merchant services payment volumes grew 30 percent and accounted

PayPal Holdings Inc on Thursday reported a third- quarter profit that beat analysts' estimates as the company Revenue rose to .68 billion from .24 billion. Excluding onetime items, the company earned 58 cents per share , beating the average analyst estimate of 54 cents, according to Refinitiv.

Shares of the company, which separated from ecommerce site eBay Inc (EBAY.O) in 2015, were up 7 percent in trading after the bell on Thursday.

In September it completed the purchase of Swedish payments firm iZettle, its largest ever acquisition.

"As pleased as I am with our financials, the highlight of the quarter was our growth in net new actives and engagement," PayPal Chief Executive Dan Schulman said on a call with analysts.

The company added a record 9.1 million new active accounts in the third quarter, compared to an increase of 8.2 million a year earlier.

PayPal processed $143 billion in payments over the period, up 24 percent from a year earlier.

Venmo, its peer-to-peer payment app popular with younger consumers, processed $17 billion of payments in the third quarter, growing 78 percent.

"And while it is still early, our monetization efforts appear to be reaching a tipping point," Schulman said.

He added that 24 percent of Venmo users have now participated in a "monetizable action," up from 17 percent last quarter.

(Reporting by Anna Irrera; editing by Jonathan Oatis; and Phil Berlowitz)

Royal Dutch Shell profit jumps as oil and gas prices soar.
Royal Dutch Shell is pushing ahead with a planned share buy-back as rising oil and gas prices boosted third-quarter earnings. The Anglo-Dutch oil giant said underlying earnings, on a current cost of supplies basis, rose 37% to $5.6bn (£4.4bn) for the three months to the end of September. On a reported basis, earnings jumped 51% to $5.57bn (£4.33bn). © Getty Shell also said it would buy up to $2.5bn (£1.9bn) of shares in the second tranche of its buy-back programme. The company had promised investors in July that it would buy back shares after its £42bn acquisition of BG Group.

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