After posting a record fourth-quarter volume in terms of transaction volume in 2020, PayPal continues its rise in the first quarter of 2021 new performance in the number of transactions with volume Total payments of $ 285 billionup from 277 billion in the fourth quarter of 2020. According to the report (pdf)PayPal posted net income of $ 1.1 billion in the first quarter of 2021 compared to $ 84 million in the first quarter of 2020. Company sales increased 31%.
PayPal’s earnings per share reached $ 1.22 for the first quarter of 2021 Forecasts by Refinitiv valued it at $ 1.01. The company had sales of $ 6.03 billion versus $ 5.9 billion estimated by Refinitiv. PayPal account today 392 users, an increase of 14.5 million compared to the previous quarter.
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“What is really interesting is that not only did we have the strongest quarter in our history, but we also continue to have high digital spending.”said Dan Schulman, CEO of PayPal, reports from Market observation.
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The CEO of PayPal not only benefited from the e-commerce boom caused by the pandemic, but also highlighted it “Excellent tactical results thanks to our cryptocurrency efforts”. According to Dan Schulman, half of cryptocurrency users open the PayPal app on a daily basis. The company also took advantage of the communication of its results announce the creation of a “new generation digital wallet” for the third quarter of 2021.
Dan Schulman describes this future service as “All-in-one app that offers personalized and unique shopping, financial services and payment experiences.” Given the takeover of Curv by PayPal, the company is of course increasingly positioning itself as a strong competitor for the Coinbase wallet for digital currencies.
In addition, the service is from “Buy-Now-Pay-Later” payment deferral was very successful. Half of the people who tried it used it again within three months. By extending this base for 6 months, 70% of users have used this payment service again.
For the next year PayPal predicts a 20% increase in sales To reach $ 25.75 billion. The company also expects earnings per share to grow 21% to $ 4.70. Refinitive is less ambitious and forecasts revenue of $ 25.71 billion and earnings per share of $ 4.57.
On May 5, 2021, when the market closed, PayPal shares rose 5.5%.