Paypal (PYPL) stock price is rising today. Now the stock is over 12% up. The rise is attributed to the first quarter 2020 results released yesterday.PayPal Holdings, Inc. (NASDAQ: PYPL) stock continues climbing on top amid the coronavirus pandemic. The rise will continue to be fueled by the good result the company posted in Q1 of 2020. As of yesterday, the shares closed the day trading at 8.31, which reciprocated to a 2.30% rise. Paypal stock is now scaling to set a record of a new all-time high, after continuing to rise in the extended hours. At the time of writing, PYPL is at 4.50 which means the stock is over 12% up.Since the Feb-march stock market crash that saw most of the traditional stocks shed a huge percentage, PayPal has recovered all the loss and now climbing higher.
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Paypal (PYPL) stock price is rising today. Now the stock is over 12% up. The rise is attributed to the first quarter 2020 results released yesterday.
PayPal Holdings, Inc. (NASDAQ: PYPL) stock continues climbing on top amid the coronavirus pandemic. The rise will continue to be fueled by the good result the company posted in Q1 of 2020. As of yesterday, the shares closed the day trading at $128.31, which reciprocated to a 2.30% rise. Paypal stock is now scaling to set a record of a new all-time high, after continuing to rise in the extended hours. At the time of writing, PYPL is at $144.50 which means the stock is over 12% up.
Since the Feb-march stock market crash that saw most of the traditional stocks shed a huge percentage, PayPal has recovered all the loss and now climbing higher. Having gone as low as $82 and now trading above $130 in the same quarter is very impressive for a fintech company.
The company has seen an increase in activities since most of the people are opting to use online payments, shopping.
“The delivery of our platform and customer base across products and geographies position us well during this unprecedented time. Our free cash flow and strong balance sheet allow us to continue investing to serve the needs of our customers,” said John Rainey, CFO and EVP, global customers operations.
With the social distancing rule at play, PayPal will continue being a better alternative instead of handling printed fiat money.
“As our platform sees record increases in both new customers’ accounts and transactions, it is clear that Paypal’s products are more important and relevant than before. The strength of our customers value proposition combined with the acceleration of digital payments adoption significantly accelerated in April, with increased demand and engagement.” President and CEO Dan Schulman said in a statement.
PayPal Q1 2020 Results
According to the report posted on its official webpage, in Q1 PayPal delivered revenue of $4.62 billion, growing 12% spot basis. It also reported a GAAP operating margin of 19.7%, with credit loss increasing by $237 million due to revised macroeconomic projections. Paypal repurchased approximately 7.5 million shares of common stock, hence returning around $800 million to the stockholders.
In the first quarter, the company added 20.2 million net new active accounts, including a one-time addition of 10.2 million in January from the acquisition of Honey. The report also noted that the company recorded 3.3 billion payment transactions. Venmo processed more than $31 billion of TPV, which was an increase of about 48%
In the coming quarters, PayPal is expecting revenue to grow by 13% at current spot rates. The dilutive impact of the acquisition of Honey and GoPay is estimated to be in the range of $0.1-$0.12 on GAAP earnings per diluted share.
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