PayPal Forecasts Growth, Easing Concerns Over Losing EBay

www.bloomberg.com

PayPal Holdings Inc. reported earnings that beat analysts’ estimates in the first quarter and gave an optimistic forecast for the second, signaling that it’s weathering the loss of EBay Inc. as it continues to sign up new accounts.

Person-to-Person (P2P) volume grew 50% to nearly $30 billion, and represented approximately 23% of TPV in the first quarter. Venmo, the company's social payments platform, processed more than $40 billion of TPV over the past twelve months. In the first quarter, Venmo processed more than $12 billion of TPV, growing 80% over the same period last year.

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