For the first quarter of 2021, PayPal company made a profit per share of $1.22. This profit is higher than expected
Analysts have previously said the payment platform could make a profit of up to $1.01. It was an optimistic forecast, as 12 months ago the profit was at the level of $0.66. In fact, this figure exceeded 20.79%.
The company's total revenue from the sale of shares was $6.03 billion, which is 2.29% higher than analysts had predicted. Considering that last year's figure was at $4.62 billion, it is safe to say that the company has succeeded.
In 2021, the share of PayPal increased by 6.8%, and the figure of the S&P 500 added 10.9%. Although these are not as impressive results as in the last reporting period, the figures also look good.
Analysts expect PayPal to report $6.15 billion profit next quarter, according to analysts' expectations. In 2021, this figure should reach $25.65 billion.
What will be the result of such impressive performance?
It is no secret that the profitability of PayPal stocks is directly affected by integration with crypto payments. According to the head of the company Dan Shulman, cryptocurrencies are the mechanism that moves the PayPal forward.
Currently, half of users of PayPal use cryptocurrency payments. In 2021, the involvement of the company's customers should increase even more.
PayPal takes care of its customers by offering them convenient and safe cryptocurrency payments, buying and selling cryptocurrencies. Its network includes 26 million retail outlets. Therefore, PayPal has very strong cryptocurrency ambitions.
In the third quarter of this year, the payment platform will launch a digital wallet. It will be a universal application, allowing you to safely store, buy, exchange cryptocurrencies, as well as receive individual offers.
With such a tool, the income of the payment platform will become even higher!