PayPal's third quarter 2017 result indicates a 21% increase in revenue, to $ 3.239 billion.
Currently, the favorite of small businesses for online payments (NASDAQ: PYPL) has 218 million active users in 200 markets around the world, performing financial transactions online, on mobile, in one application or in person. This flexibility is one of the reasons its earnings are growing at double-digit rates.
PayPal 2017 Third Quarter Results
The third quarter of 2017 revealed that PayPal had 1.9 billion payment transactions, an increase of 26%. Growth was driven by 8.2 million new active accounts receivable, up 88%.
For many freelancers and small businesses using PayPal as a payment platform, growth represents more opportunities. According to the report, 17 million merchant accounts use the platform to accept payments from all over the world. This has allowed individuals and small businesses to make their products and services available on a global scale.
PayPal adds more services and partnerships with global brands to make it accessible to everyone. Dan Schulman, President and CEO of PayPal, said in his release, "Put our customers first in everything we do, improve our product and service offering and build partnerships with some of the world's most trusted brands. in the world. "
The addition of Braintree, Venmo and Xoom has given PayPal access to a younger demographic group that relies on these apps to conduct personal financial transactions at no cost. Being able to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in PayPal accounts in 25 currencies means that a small business can work anywhere.
Other financial highlights include cash flow from operations of $ 1.006 billion, free cash flow of $ 841 million, up 36%; 32.8 payment transactions by active account; $ 114 billion in total payment volume (TPV), up 30 percent; and the volume of mobile payments increased 54 percent to $ 40 billion from the same period last year.
Take-home for small businesses
Since PayPal was separated from eBay in 2015, the stock price has doubled and the company is doing everything in its power to make its platform forms an invaluable value of the current digital economy. The CEO said, "While the world is rapidly accelerating digital payments, we have a tremendous opportunity ahead of us."
As a small business, PayPal must be one of the payment solutions that you make available to your customers. Not doing it means potentially losing many of the 218 million active customers who use PayPal.
PayPal Photo via Shutterstock.