PayPal, a global payment service provider, recently reported its first-quarter earnings for fiscal 2019, according to media reports. According to the latest financial report, PayPal’s net revenue in the first quarter was $4.128 billion, an increase of 12% in the year, and a net profit of $667 million, an increase of 31% on a year earlier. PayPal’s first-quarter results beat Wall Street analysts ‘ expectations.
PayPal’s main results for the first quarter:
PayPal’s first-quarter net profit was $667 million, up 31% from $511 million a year earlier. Earnings per share were 56 cents, up 34 percent from 42 cents a year earlier.
PayPal’s first-quarter net profit was $667 million, up 31% from $511 million a year earlier. Earnings per share were 56 cents, up 34% from 42 cents a year earlier. Adjusted earnings per share were 78%, up 37% from 57 cents a year earlier and higher than analysts’ expectations. Average analyst expectations on average expected PayPal to earn 68 cents per share in the first quarter.
PayPal’s net revenue in the first quarter was $4,128 million, up 12 percent from $3,685 million a year earlier, and up 12 percent from the same period a year earlier, excluding currency movements, in line with analysts’ expectations. Analysts expect PayPal’s average first-quarter revenue to be $4.13 billion.
PayPal’s first-quarter operating profit was $518 million, down from $534 million a year earlier; operating margin was 12.5% per cent, down 194 basis points from 14.5% per cent a year earlier.
PayPal had a net new active user account of 9.3 million in the first quarter, up 15% from 8.1 million a year earlier. In the first quarter, PayPal processed 2.8 billion transactions, an increase of 28% year-on-year. Over the past 12 months, PayPal handled 37.9 transactions per active account, up 9% from the previous year.
In addition, PayPal returned $750 million in cash to shareholders in the first quarter through the purchase of 7.7 million common shares.