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On Thursday, October 18th,PayPal reported its Q3 earnings and revenues–figures that topped Wall Street’s estimates. There was also a notable surge surge in payment volume on Venmo, PayPal’s peer-to-peer payment app, and the addition of a ‘record’ 9.1 million new accounts.
Financial markets data & infrastructure provider Refinitv estimated a $0.54 increase in share price; PayPal reported $0.58 per share. The company also took in $3.68 billion in revenue, just over Refinitiv’s estimated $3.66 billion. Expected earnings for Q4 have been raised to $0.65-$0.67, and full-year earnings are expected at $2.38-$2.40 per share.
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