PayPal reported their results last week and you might be interested in some highlights. You can read PayPal’s press release here.
Here are the basics: revenue clocked in at a record high of $2.3 billion, That’s up 15%. And it was up 19% on a foreign currency (FX) neutral basis. “Net income for the quarter was $301 million or $0.25 per diluted share, and non-GAAP net income was $377 million or $0.31 per diluted share, driven primarily by growing relevancy with its customer base.”
And head honcho Dan Schulman said: “PayPal is entirely focused on digital payments and transforming money for people around the world. This clear focus and our strong value proposition allowed us to deliver strong financial results in the third quarter.We are operating in a time when change is sweeping through the financial services industry driven by the rise of mobile technology and the acceleration of money becoming digital.These two massive trends play directly to our strengths and we are leveraging this transformation to extend and accelerate our lead.”
But in the days since they reported results there hasn’t been a wild improvement in the stock price.
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Now ask your Euro MP why we are paying percentages for electronic money transfer that only costs 12p according to the Banks. Some rumbling on this, but its all gone quiet again.