Despite promising results, stocks traded lower
The online payments system – PayPal reported Q3 figures that came higher-than-expected.
The company has benefited from the fact that people had to pay contactless due to the global pandemic. For #Q3 2020, PayPal reported an EPS of $0.86, above last year’s $0.39. The #revenue came in higher than last year’s $4.38 billion at $5.46 billion. The actual figures were higher than the $5.42 billion expected.
PayPal’s payment volume increased 38% in the quarter reaching $247 million.
In the past quarter, PayPal added 15.2 million new accounts, with the grand total reaching 361 million.
For #Q4, PayPal expects its EPS to increase by up to 47%, while the revenue should grow between 20% and 25%.
Even though the figures came in higher-than-expected, PayPal #stock price #traded 5.7% lower.
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