PayPal Holdings, Inc. PYPLreported first-quarter 2018 non-GAAP earnings of 57 cents per share, which surpassed the Zacks Consensus Estimate by 3 cents. The figure increased 29.5% on a year-over-year basis and 3.6% sequentially. The year-over-year growth was driven by strong operating results.
Net revenues increased 24.
The year-over-year growth was attributed to improved customer base which boosted the total active accounts significantly in the first quarter. Moreover, the company’s ongoing strategic partnerships remained positive.
We note that shares of PayPal have returned 4.3% in the after-hours trading. This is primarily attributed to better than expected first quarter results.
Further, the stock has gained 56.9% over a year, outperforming the industry’s rally of 24.3%.