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PAYPAL HOLDINGS, INC.

(PYPL)
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PayPal : profit tops estimates on digital payments boom

05/05/2021 | 04:50pm EDT

May 5 (Reuters) - PayPal Holdings Inc reported its strongest first quarter on record and beat profit estimates on Wednesday, with a coronavirus-driven shift to online shopping and digital transactions boosting payment volumes.

PayPal's quarterly performance builds on an equally strong 2020 for the company, which also saw record levels of payment volumes.

San Jose, California-based PayPal processed a total of $285 billion in payments in the first quarter, up 50% from a year earlier, and added 14.5 million net new active customers.

"Our strong first-quarter results demonstrate sustained momentum in our business as the world shifts into the digital economy," Chief Executive Officer Dan Schulman said in a statement.

The company has been among the big winners of the pandemic as more people used its payment services to shop online and pay bills while staying indoors during the health crisis.

Visa Inc, the world's biggest payment processor, is emerging from the COVID-19 pandemic, its top boss said last month, helped by a surge in online shopping.

Venmo, PayPal's app which allows individuals in the United States to send each other money, processed $51 billion in payments in the quarter, up 63%.

PayPal also said it expects to add 52–55 million net new active accounts in 2021, with an about 30% rise in total payments volume on a spot and forex neutral basis.

The company in February forecast an addition of about 50 million active users in 2021.

It also expects annual revenue and diluted earnings per share ahead of analyst estimates, according to Refinitiv IBES data.

PayPal reported first-quarter net income of $1.22 per share, beating analysts' average estimates of $1.01 per share.

Revenue also beat estimates, rising 31%.

Rival Square Inc will report quarterly results on Thursday. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Aditya Soni)


ę Reuters 2021
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Financials (USD)
Sales 2021 25 821 M - -
Net income 2021 3 896 M - -
Net cash 2021 9 672 M - -
P/E ratio 2021 95,3x
Yield 2021 -
Capitalization 362 B 362 B -
EV / Sales 2021 13,7x
EV / Sales 2022 11,1x
Nbr of Employees 26 500
Free-Float 90,5%
Chart PAYPAL HOLDINGS, INC.
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PayPal Holdings, Inc. Technical Analysis Chart | PYPL | US70450Y1038 | MarketScreener
Technical analysis trends PAYPAL HOLDINGS, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 48
Last Close Price 308,53 $
Average target price 322,43 $
Spread / Average Target 4,50%
EPS Revisions
Managers and Directors
Daniel H. Schulman President, Chief Executive Officer & Director
John D. Rainey CFO & Executive VP-Global Customer Operations
John J. Donahoe Chairman
Sripada Shivananda Chief Technology Officer & Executive VP
Jonathan Christodoro Independent Director
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