PayPal's quarter exceeded expectations across the board

Katie Roof
PayPal announced today it has agreed to sell $5.8 billion in consumer credit receivables to Synchrony Financial, in an expanded relationship between the companies.

PayPal, the digital payments company, shared its growing financials after the bell on Thursday.

The company beat Wall Street's expectations, posting an adjusted 46 cents per share. Analysts had been predicting 43 cents.

Revenue was also better than predicted, with $3.24 billion, versus the $3.16 billion forecast.

PayPal also raised full-year guidance for both revenue and earnings.

It brought in a record total payments volume of $114 billion.  This is up 30% from last year.

PayPal now has 218 million active accounts, compared to 192 million in the same period last year.

Venmo, the peer-to-peer payments app that's owned by PayPal, also saw significant growth. The platform accounted for $30 billion of the TPV.

 

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