82.70 +5.22 (6.74%)
Pre-Market: 7:12AM EDT
|Bid||82.80 x 1100|
|Ask||82.99 x 800|
|Day's Range||77.36 - 80.43|
|52 Week Range||68.61 - 93.70|
|Beta (3Y Monthly)||1.09|
|PE Ratio (TTM)||46.15|
|Earnings Date||Oct 17, 2018 - Oct 22, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||97.86|
Oct.19 -- PayPal Holdings Inc. exceeded analysts’ earnings estimates and said it’s making progress toward monetizing Venmo, the popular mobile-payments service. Jeremy Kahn reports on "Bloomberg Surveillance." INTVxKahn1019d SW050010192018.MXF 05.23.50 05.25.55
Meanwhile, the payment company’s growth story just got more compelling. PayPal reported solid quarterly earnings Thursday. Excluding this, revenue growth was a robust 21%, in line with the pace of previous quarters.
can act as a barometer of the American consumer, which is especially pertinent right now as many on Wall Street wonder whether or not we're at the peak of the economic cycle. American Express beat estimates on both top and bottom lines in its third quarter. CEO Stephen Squeri said much of the solid quarter was attributable to increased spending.
DowDuPont, PayPal, AIG, American Express, and Skechers are among the stocks to watch on Friday morning.
U.S. stock futures were rising modestly on Friday, Oct. 19, following a rebound for stocks in China, which was set off by a pledge from China's central bank governor to support the nation's financial system. Worrisome, however, was data that showed the weakest economic growth in China since the financial crisis. Contracts tied to the Dow Jones Industrial Average rose 46 points, futures for the S&P 500 gained 4.25 points, and Nasdaq futures were up 24.50 points.
shares surged in premarket trading Friday after the online payments group posted stronger-than-expected third-quarter earnings as its active customer base topped 250 million and growth on its Venmo platform continued to impress. PayPal said non-GAAP earnings for the three months ending in September rose 26% from the same period last year to 58 cents a share, topping the 54 cents a share forecast, while revenues jumped 13% to $3.68 billion. Payments on Venmo, its youth-focused payment app, surged 78% to $17 billion, as more of its new users make payments on the system and CEO Dan Schulman said monetization neared a "tipping point".
PayPal Holdings Inc on Thursday reported a third-quarter profit that beat analysts' estimates as the company signed up more new customers and volume of payments processed rose. For the fourth quarter, PayPal expects revenue between $4.20 billion and $4.28 billion, in line with analysts' estimates of $4.21 billion estimate. "As pleased as I am with our financials, the highlight of the quarter was our growth in net new actives and engagement," PayPal Chief Executive Dan Schulman said on a call with analysts.
After the bell on Thursday, PayPal reported Q3 revenue of $3.68 billion (up 14% annually) and non-GAAP EPS of $0.58, topping consensus analyst estimates of $3.66 billion and $0.54. Not long afterwards, PayPal -- which it should be noted has a history of guiding conservatively -- guided on its earnings call for 17% forex-neutral 2019 revenue growth and roughly 20% EPS growth. The revenue growth outlook compares favorably to a pre-earnings consensus for 16% dollar-based growth, particularly given the dollar's recent strengthening, while the EPS outlook is slightly below a consensus for 21% growth.
PayPal Holdings Inc. says that its efforts to make money from Venmo are nearing a “tipping point,” news that helped send shares of the payments company up 7% in after-hours trading Thursday.
PayPal-owned payments app Venmo has struggled to make money for its parent company and Wall Street analysts were closely watching its performance in Thursday’s earnings report. Venmo didn’t disappoint — its payment volume surged 78 percent in the third quarter to a total $17 billion. “While it is still early, our monetization efforts appear to be reaching a tipping point,” CEO Dan Schulman said on a call with analysts Thursday.