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Paypal disappointed investors with a fall in profits



Despite the flourishing of online commerce, Paypal's online payment service has earned much less in the Christmas quarter. In the three months to end-December, net profit fell by more than a third on the previous year to $ 584 million (EUR 508 million), according to a former eBaya affiliate after the US market in San Jose on Wednesday.

While revenue jumped 13 percent to $ 4.2 billion, higher growth was achieved through acquisitions such as Hyperwallet and iZettle. Its customer base has boosted Paypal to 267 million active accounts around the world. Although the payment service provider confirmed its annual targets for 2019, it predicted lower sales in the current quarter than analysts expected. For investors, Paypal's financial report has not passed well – stocks have fallen temporarily for more than five percent.


(AXK)


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