Skip to main content

PayPal revenues miss but growth is strong from new acquisitions

PayPal revenues missed, but strong growth from its recent iZettle and Hyperwallet acquisitions and booming business at Venmo point to a strong outlook for the payments giant.

In all, PayPal saw revenues for the quarter of $4.23 billion against analysts’ estimates of $4.24 billion, according to data from Yahoo Finance. Earnings per share at the company were up to 69 cents versus analysts’ expectations of 62 cents on a non-GAAP basis.

For the full year, PayPal saw revenue hit $15.45 billion versus analysts’ estimates of $15.46 billion.

The addition of 2.9 million net new active accounts resulting from the acquisitions of Hyperwallet and iZettle show how those two deals are already adding value, as PayPal moves to expand internationally and away from its core market in the U.S.

Payment transactions totaled 2.9 billion for the quarter, up 28 percent, and the $164 billion in total payment volume was a 23 percent increase from the year ago period.

“In 2018 we set new benchmarks for the company for revenue, net new active accounts and engagement across our platform. We launched new products, strengthened existing relationships and entered into new strategic partnerships with some of the biggest and most influential global brands in technology, retail and finance,” said Dan Schulman, president and CEO of PayPal. “We greatly expanded our global reach, serving 267 million customer accounts, including 21 million merchant accounts. We believe 2019 will be another strong year for us, and we intend to build on our strengths to extend our leadership as the leading open digital payments platform.”

Other than the additions from the new acquisitions, the other bright spot for PayPal was the volume coming in from its Venmo business. In all, volume of Venmo transactions hit $19 billion, growing by 80 percent, in the fourth quarter. For the year, nearly $62 billion changed hands on the Venmo platform.

Mobile payments were also up for the company. Roughly $67 billion was transacted through mobile devices for the quarter, a 40 percent boost on year-ago numbers.

Despite the generally positive outcomes, PayPal’s stock was down 4.4 percent to $88.11 in after-hours trading on the Nasdaq.



from TechCrunch https://tcrn.ch/2FYAwjU
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

The Silent Revolution of On-Device AI: Why the Cloud Is No Longer King

Introduction For years, artificial intelligence has meant one thing: the cloud. Whether you’re asking ChatGPT a question, editing a photo with AI tools, or getting recommendations on Netflix — those decisions happen on distant servers, not your device. But that’s changing. Thanks to major advances in silicon, model compression, and memory architecture, AI is quietly migrating from giant data centres to the palm of your hand. Your phone, your laptop, your smartwatch — all are becoming AI engines in their own right. It’s a shift that redefines not just how AI works, but who controls it, how private it is, and what it can do for you. This article explores the rise of on-device AI — how it works, why it matters, and why the cloud’s days as the centre of the AI universe might be numbered. What Is On-Device AI? On-device AI refers to machine learning models that run locally on your smartphone, tablet, laptop, or edge device — without needing constant access to the cloud. In practi...
1 comment
Read more

Apple’s AI Push: Everything We Know About Apple Intelligence So Far

Apple’s WWDC 2025 confirmed what many suspected: Apple is finally making a serious leap into artificial intelligence. Dubbed “Apple Intelligence,” the suite of AI-powered tools, enhancements, and integrations marks the company’s biggest software evolution in a decade. But unlike competitors racing to plug AI into everything, Apple is taking a slower, more deliberate approach — one rooted in privacy, on-device processing, and ecosystem synergy. If you’re wondering what Apple Intelligence actually is, how it works, and what it means for your iPhone, iPad, or Mac, you’re in the right place. This article breaks it all down.   What Is Apple Intelligence? Let’s get the terminology clear first. Apple Intelligence isn’t a product — it’s a platform. It’s not just a chatbot. It’s a system-wide integration of generative AI, machine learning, and personal context awareness, embedded across Apple’s OS platforms. Think of it as a foundational AI layer stitched into iOS 18, iPadOS 18, and m...
Post a Comment
Read more

Max Q: Anomalous

Hello and welcome back to Max Q! Last week wasn’t the most successful for spaceflight missions. We’ll get into that a bit more below. In this issue: First up, a botched launch from Virgin Orbit… …followed by one from ABL Space Systems News from Rocket Lab, World View and more Virgin Orbit’s botched launch highlights shaky financial future After Virgin Orbit’s launch failure last Monday, during which the mission experienced an  “anomaly” that prevented the rocket from reaching orbit, I went back over the company’s financials — and things aren’t looking good. For Virgin Orbit, this year has likely been completely turned on its head. The company was aiming for three launches this year, but everything will remain grounded until the cause of the anomaly has been identified and resolved. It’s unclear how long that will take, but likely at least three months. Add this delay to Virgin’s dwindling cash reserves and you have a foundation that’s suddenly much shakier than before. ...
Post a Comment
Read more