PayPal reports for the first fiscal quarter of 2016 - $ 365 million in net profit

This week, PayPal reported for the first fiscal quarter of 2016, during which the company's revenue grew by 19% due to an increase in the user base and the number of payments made. Shares of PayPal amid this news rose 4% to $ 41.65 per share.

The increase in the number of digital payments made is possible due to the conclusion of transactions with partners such as Facebook in the framework of Facebook Messenger and Alibaba Wholesale. The number of active PayPal users grew by 11.5% to 184, exceeding analysts' expectations from FactSet StreetAccount, which predicted growth to 182.8 million. Most analysts showed slightly lower expectations, which affected the overall results of forecasts published by Reuters.
')
Over the quarter, 1.41 billion transactions went through PayPal, which is slightly more than 1.39 billion a quarter earlier. The total volume of payments similarly increased by 28.6% to $ 81.06 billion. Such figures led to an increase in PayPal's income to $ 2.54 billion, while the company's operating profit grew by 43% to $ 365 million and $ 0.30 a share. If you do not take into account expenses, then PayPal earned $ 0.37 cents per share.

PayPal plans revenues of $ 2,570-2,620 billion in the second quarter of 2016 - taking into account the growth of the Facebook Messenger user base and other partner services, the company can once again surpass this forecast.