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PayPal posted better-than-expected earnings

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
PayPal exceeded every expectation

PayPal amazed the markets with its Q2 earnings report. The company exceeded analysts’ expectations, as the pandemic made online transactions boom. 

The company posted a net income of $1.53 billion, or an EPS of $1.29. It exceeded last year's figures of $823 million, or 69 cents EPS. At the same time, the adjusted EPS came in at $1.07 from 71 cents the same quarter last year.

Revenue increased to $5.26 billion from a previous of $4.31 billion. It exceeded the $4.99 billion consensus. 

The value of transactions made through the PayPal platform reached $222 billion from $172 billion, beating the $210 billion expected. 

Users wise, it added 21.3 million net active accounts in the past quarter. 

After the report, PayPal stock rose more than 5%. In the past quarter, the stock price gained 49%, while USA500 rose 11%. Overall, it increased by 71%, while USA500 added 17%. 

Sources: marketwatch.com, bloomberg.com


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Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.