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PayPal posts beat on adjusted EPS, revenue

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PayPal reported earnings that outperformed expectations, with the company posting $1.08 adjusted EPS and $6.12B in net revenue, compared to consensus estimates of $1 EPS and $6.09B in revenue.

Video Transcript

SEANA SMITH: We've got some breaking news. PayPal coming out with its earnings report. Jared Blikre has those numbers for us. Jared.

JARED BLIKRE: That's right. We got the stock up about 1.7% in after hours trading. A beat on both the top and bottom lines. Fourth quarter net revenue coming in at 6.12 billion. Estimate was for slightly lower, at 6.09 billion. Fourth quarter adjusted EPS, $1.08. The estimate was for $1 even. The key metric here is fourth quarter total payment volume. That came in at 277 billion. Estimate was for about 11 billion lower, at 266.8 billion. So nice beat there.

When you're talking about revenue effects neutral, so taking out currency effects, it was up 26%. The estimate was for substantially lower at 21.6%. And they are seeing first quarter adjusted EPS about 50%. Estimate for there was also lower, 48.7%. So they are expecting full year, top line [INAUDIBLE] to grow in high 20s based on a percent basis. I didn't read that just quite. That's a headline that's just coming out. And they expect to add about 50 million active accounts for the year.

Now they do have this merger with Just Eat Takeaway. That is pending. That's expected to close in June. Looks like they've cleared all the regulatory hurdles, so we'll be tracking that.

And also, on the earnings call, we're going to want some more details about what exactly their Bitcoin strategy is and what the initial results are. Lots of people are really interested for that. And we remember last year, when PayPal first announced that they were getting into Bitcoin in a big way, that Bitcoin surged on the news. So maybe we'll get some market action there. Anyway, here's PayPal over the last year. Excuse me. It's up about 116%.