PayPal’s revenue saw a growth of 13% on the year-on-year (YoY) basis in the last financial quarter of 2018 as the company focused on expanding their global reach.
The payment provider have announced their Q4 results for the period ending on the 31st of December which saw a revenue of $4.23bn (£3.24bn). That’s up from $3,74bn (£2.86) during the same time last year.
PayPal say they “greatly expanded [their] global reach,” with 267m customers and 21m merchant accounts contributing to their sales.
“In 2018 we set new benchmarks for the company for revenue, net new active accounts and engagement across our platform. We launched new products, strengthened existing relationships, and entered into new strategic partnerships with some of the biggest and most influential global brands in technology, retail, and finance. We believe 2019 will be another strong year for us, and we intend to build on our strengths to extend our leadership as the leading open digital payments platform.”
– Dan Schulman, president and CEO, PayPal
PayPal’s operating margin saw a decline in the last quarter. Last year, PayPal’s operating margin results was 22.5% in the fourth quarter, compared to 14.2% in Q4 2018.
Overall, PayPal achieved a $578bn (£442bn) total payment volume. That’s up by 27% on the YoY rate.