2023-12-03 17:06:10 ET
Shares of PayPal Holdings (NASDAQ: PYPL) gained 11% in November according to data provided by S&P Global Market Intelligence . Investors were impressed with the new CEO's first earnings report, and it also benefited from an overall market rally.
PayPal is the leader in digital payment processing and peer-to-peer payments, even though it's been slowing down since its highs early in the pandemic. It processed nearly $388 billion in volume in the 2023 third quarter, a 15% increase over last year, and it has 428 million active accounts.
Revenue increased 9%, on a currency neutral basis, over last year, and adjusted earnings per share (EPS) increased from $1.08 last year to $1.30 this year in the third quarter, both ahead of management's guidance. Management raised guidance for full-year EPS to increase 21% to $4.98.
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Why PayPal Stock Jumped 11% in November