Online payments company PayPal is set to report third-quarter earnings after the closing bell Thursday.
Here’s what Wall Street expects:
- EPS: 43 cents, according to Thomson Reuters
- Revenue: $3.18 billion, according to Thomson Reuters
PayPal announced Tuesday that Venmo users will be able to use their account to pay online for purchases from most merchants that accept payments through its parent company.
Venmo, one of PayPal’s most popular payment methods, processed $8 billion in payments in the second quarter of this year.
PayPal’s march to fame comes after the company parted with eBay in 2015. After initially resisting pressure from activist investor Carl Icahn to split from PayPal, former eBay CEO John Donahoe finally agreed in 2014.
With Dan Schulman at its helm, PayPal eclipsed eBay both in size and rate of growth since the breakup. PayPal’s market cap of $80.9 billion is now roughly double eBay’s, at $40.7 billion.
Source: Tech CNBC
PayPal earnings expected after the market close