Paypal has reported its latest financial results for the fourth quarter of 2016 and it continues to grow strongly and results were in line with Wall St. analyst expectations for the period.
Revenues clocked in at $2.98 billion in Q416 that’s up 17% on the same period in 2015. Earnings per share (adjusted) hit 42 cents and the total payment volume on PayPal was $99 billion. That’s slightly than some estimates of $101 billion but it’s nonetheless a 22% jump over last year.
PayPal CEO Dan Schulman says of the results: “In the past year, we transformed our market opportunity with a series of strategic partnerships with networks, financial institutions, technology companies, and mobile carriers. We accomplished all of this by putting our customers first.”
PayPal is valued at circa $50bn (eBay’s around $36bn) and has an enviable portfolio of companies under its wing including Venmo, Braintree and Xoom. PayPal stocks are up by 31% on the same time last years.
Doubtless PayPal has huge potential and even in the 18 months or so since eBay and Paypal split it’s clear that they’re competitive in the payments market but so far there hasn’t been a game-changing development from them yet. It seems likely that 2017 will see significant developments at PayPal. Possibly even a partnership with Amazon.
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So why the fee hike on cross border transactions hidden away in their latest “changes to your legal agreement” email ???