PayPal (PYPL) Surges to All-Time High on Strong Quarter

PayPal Holdings, Inc. (PYPL) continued its long winning streak on Wednesday evening, posting a greater-than-expected profit of $1.08 per share on 23% revenue growth to $6.12 billion. Buyers took charge after the news, lifting the stock more than 6% to an all-time high above $265. A nod to cryptocurrencies marked the highlight of the bullish report, with the fintech juggernaut now allowing customers to use their crypto balances as funding sources at 29 million merchants.

PayPal is trading higher after beating fourth quarter top- and bottom-line estimates.
Customers can now use crypto balances at 29 million merchants.
The stock lifted to another all-time high on Thursday.
Total Payment Volume (TPV) grew 39% to $277 billion, or 36% on a foreign exchange-neutral basis. PayPal added 16 million Net Active Accounts during the quarter, with older demographics shaking off old-school cash habits and joining the digital generation. PayPal now expects 28% revenue growth in first quarter of 2021 and is looking to post GAAP earnings per diluted share of around $0.70, much higher than the $0.07 reported in the same quarter last year.

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