💼📈 PayPal announced the results! 🚀
Strong growth and beating expectations!
Shares of the company are up more than 8%.
PayPal $PYPL has once again moved its 2024 earnings forecast upwards, thanks to excellent results from branded checkout services such asBraintree and Venmo. These results helped the company increase transaction margins to $3.61 billion, anincrease of 8 % compared to the previous quarter. 📊✨
Despite competition from tech giants like Apple a Alphabet (Google) si PayPal continues to maintain its market share in digital payments. CEO Alex Chriss emphasized that when it comes to desktop and web transactions, PayPal is still at the top, with no loss of share in the last four years. 💻
Total payment volume increased in the second quarter by 11 % to $416.81 billion, while revenue increased by 9 % to $7.89 billion.
Interestingly, US consumers remain resilient to economic pressures, which is reflected in higher spending during the season. As a result of these factors ,PayPalexpects adjusted earnings growth in the range of "low to mid-teens percentages".
The company is announcing a full-year share buyback of USD 6 billion, previous projections called for a buyback of USD 5.0 billion.
Free cash flow of USD 6 billion, the market was expecting USD 5 billion.
It's great to see that PayPal continues to grow and improve its profitability despite competitive pressures and economic challenges. This is a demonstration of strong leadership and a well thought out strategy. 📉
What do you think of PayPal after these results? Will the stock price finally get above $70 and continue to grow? 📊💡
It's not for me, so it's not in my portfolio.
I don't have a solvency, but I held it for about 2 months in 2020. Otherwise, nice results.