PayPal is doing well and is reporting this in its third-quarter 2019 financial results. The company remains the leader in online payment.
Last month, the young creators of the startup “Stripe” raised no less than $230 million. In the quest to expand the online payment service for professionals, the company has become the largest “unicorn” today. In other words, the most highly valued non-stock company: $32 billion.
Paypal remains the leader
But at more than $100 billion more, the PayPal service is still far ahead. The platform shows no signs of fatigue, despite its presence since 1998. The Fintech wave does not frighten him.
His topicality could allow him to enter a circle that remains inaccessible for many competitors like Stripe and Checkout: the Chinese market.
The volume of transactions increases via PayPal
PayPal has just published its quarterly report. It has to be said that the lights are on the green at the company located in San Jose, California. The platform identified as many as 9.8 million new active accounts. That resulted in a significant increase in the total number of payments to 295 million, an increase of 25%.
As a result, the company’s sales increased by 19% year-over-year to $4.38 billion. Furthermore, its net earnings per share increased by 7%.
For the last quarter, PayPal CEO Dan Schulman and his team are looking to build on this momentum. They are already aiming to achieve annual sales of between $17.7 and $17.76 billion. Earnings per share are expected to be between $3.06 and $3.08, which is great news for shareholders.
PayPal invests with difficulty but buys strategically
Nevertheless, the balance sheet could have been even better, if PayPal had not suffered the same fate for its investments in Uber and MercadoLibre.
The two companies, in which PayPal invested funds, finally penalized him, particularly in its increase in earnings per share. Nevertheless, the online payment service has not played so badly recently and stated last September that it had acquired GoPlay, by buying 70% of the company’s capital.
This acquisition is of drastic importance for PayPal
The Chinese company GoPlay is indeed licensed to conduct online transactions within the country itself, where most American and European firms do not have access.
From this considerable market, PayPal could make a major impact and maintain its acquired lead over its competitors. Because despite its 21 years of existence, the company is still looking for itself and has just withdrawn its participation in the Libra project, Facebook’s crypto-currency.
(Featured Image by bruce mars)
First published in presse-citron, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. B2I assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. B2I is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Why is the stock market up?
A global pandemic. The President impeached. Raging wildfires across the west coast. Riots throughout major cities. The Olympics cancelled. The...
The biotech sector in Bavaria has strongly developed over the last years
Bavaria has been able to establish itself as a location for biotechnology and innovation in recent decades. However, at an...
How the coronavirus pandemic impacted the German Fintech sector
The coronavirus pandemic has clearly affected the Fintech sector in Germany. However, some of the companies that are currently struggling,...
What’s the problem with the Dow Jones? Maybe it’s overvalued
So far, the Dow Jones has yet to exceed the high of its current advance on August 3rd. Who knows...
Fruitbox Africa: Frankfurt investor and Siemens to create jobs in Ethiopia
The Frankfurt investor Lutz Hartmann and the technology giant Siemens want to invest in Ethiopia. Creating jobs, training young people,...
Featured5 days ago
Qonto registered over €900 million value of transactions on Italian current accounts
Cannabis6 days ago
Cannabis light company to sponsor Italian soccer league teams
Crypto6 days ago
Why are Ethereum fees higher than Bitcoin ones?
Business6 days ago
XRApplied sitting pretty on the precipice of the XR boom