PayPal’s Venmo Isn’t Enough to Drive Payment Volume Growth
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PayPal Holdings Inc. released first quarter results that showed rising sales and profit but a decline in payment volume growth, a closely watched measure of the company’s popularity among customers.
The San Jose, California-based met analysts’ expectations for revenue and exceeded them for per-share earnings last quarter. On a conference call after the report, PayPal said it was pleased with plans to make money from Venmo app, although it didn’t offer specifics.