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Quarterly figures: Paypal increases revenues sharply

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Jane
Jane
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
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The online payment service Paypal recorded strong growth in the summer. In the third quarter, revenues rose by eleven percent year-on-year to $6.85 billion (7.02 billion euros), as the group announced after the US stock market closed in San Jose.

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The online payment service Paypal recorded strong growth in the summer. In the third quarter, revenues rose by eleven percent year-on-year to $6.85 billion (7.02 billion euros), as the group announced after the US stock market closed in San Jose.

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Net income increased 22 percent to $1.3 billion. Although the results exceeded market expectations, the stock reacted after hours with a price slide of more than ten percent at times. Paypal disappointed investors with a cautious forecast for the final quarter. The company expects a significant slowdown in sales growth.

Source: Stern

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