PayPal’s Payment Volume Rises at Start of ‘Transition Year’
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PayPal Holdings Inc.’s payment volume climbed 14% in the first quarter on increased consumer spending globally, giving a boost to the firm’s shares in early trading.
Total payment volume was $403.9 billion in the first quarter, PayPal said in a statement Tuesday, topping analysts’ estimates of $392.9 billion. For all of 2024, the firm is expecting earnings per diluted share to be about $3.65, compared with $3.84 the prior year, when it included gains from the sale of Happy Returns — a firm that helps consumers return unwanted items — and from the company’s investment portfolio. The forecast was lower than analysts are expecting.