PayPal (NASDAQ:PYPL) posted its latest quarterly earnings results after the bell Wednesday and the company had mixed results that included an earnings beat and a slight volume miss, causing PYPL stock to slide late in the day.
The Palo Alto, Calif.-based payment system said that for its first quarter of its fiscal 2019, it brought in net income of $667 million, or 56 cents per share. The amount was roughly 30.5% ahead of the company’s profit from its first quarter of 2018, when it brought $511 million, or 42 cents per share.
On an adjusted basis, PayPal raked in earnings of 78 cents per share, a 36.8% increase from the 57 cents per share from the year-ago period. The figure was also stronger than the Wall Street consensus estimate, which called for adjusted earnings of 68 cents per share, according to analysts polled by FactSet–the company did experience an earnings benefit of 8 cents per share during the period, linked to its strategic investment in MercadoLibre.
Revenue came in at $4.13 billion for the period, about 11.9% ahead of the $3.69 billion from the year-ago quarter, while also meeting expectations. PayPal’s total payment volume (TPV) grew to $161 billion thanks to 9.3 million additions in new active accounts, increase the company’s total to 277 million–this figure was $2 billion below the Wall Street guidance.
The company also saw 38 transactions per active account over a trailing 12-month period, a 9% improvement year-over-year.
PYPL stock fell about 1.6% after hours today, while shares had been gaining 0.3% during regular trading hours in anticipation of the site and app’s results.
More From InvestorPlace
- 10 Stocks to Sell Before They Give Back 2019 Gains
- 7 Tech Stocks With Too Much Risk, Not Enough Upside
- 10 High-Yielding Dividend Stocks That Won’t Wilt
The post PayPal Earnings: PYPL Stock Slides on Q1 EPS Beat, Volume Miss appeared first on InvestorPlace.