Payment gateway company, Paypal announced its third-quarter results on Monday that edged past the expectations of analysts. The revenue generated beat the forecasts. However, on the contrary, its share fell by almost 6 per cent during after-hours, post the report came out.
On earnings of USD 5.46 billion, the company announced $1.07 revenue per share. The overall volume of payment surged to $247 billion, total growth of 38 per cent.
PayPal Holdings Inc added around 15.2 million new accounts during the period and beat the expectations of $232.26 billion as earnings. Interestingly, it now stands at 361 million active user accounts.
The company co-founded by Elon Musk now expects the EPS growth somewhere between 37-38 per cent after the result for the full year of 2020. Meanwhile, it estimates non-GAAP EPS around 27 per cent.
Notably, the growth in total payment would be near 30 per cent approximately. The net account for the year are expected to be 70 million. And overall revenue growth can range between 20-21 per cent.