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PayPal earnings soar on e-commerce boom
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SAN FRANCISCO, May 6, 2021 (BSS/AFP) – PayPal on Wednesday reported record quarterly profit as the online financial transactions service benefited from an e-commerce trend boosted by the pandemic.
PayPal said it made a profit of $1.1 billion in the recently ended quarter, compared with $84 million in the same period last year.
“Our strong first quarter results demonstrate sustained momentum in our business as the world shifts into the digital economy,” PayPal chief executive Dan Schulman said in an earnings release.
PayPal handled some 4.4 billion payment transactions in the quarter, with a total value of $285 billion, the Silicon Valley-based company said.
Facebook’s battle with errant world leaders has only just begun Adam Taylor
, including news from around the globe, interesting ideas and opinions to know, sent to your inbox every weekday. The Facebook account of then-President Donald Trump is displayed on a laptop computer in Arlington, Va., on Jan. 7. (Andrew Harrer/Bloomberg News)
The decision of on former president Donald Trump, at least temporarily, may seem like an American story. The Silicon Valley-based social media platform, founded by an American citizen, Mark Zuckerberg, had banned the former U.S. leader for his role in allegedly inciting violence at the U.S. Capitol in Washington on Jan. 6.
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A PayPal sign is seen at an office building in San Jose, California May 28, 2014. REUTERS/Beck Diefenbach PayPal on Wednesday reported record quarterly profit as the online financial transactions service benefited from an e-commerce trend boosted by the pandemic. PayPal said it made a profit of $1.1 billion in the recently ended quarter, compared with $84 million in the same period last year. “Our strong first-quarter results demonstrate sustained momentum in our business as the world shifts into the digital economy,” PayPal chief executive Dan Schulman said in an earnings release. PayPal handled some 4.4 billion payment transactions in the quarter, with a total value of $285 billion, the Silicon Valley-based company said.
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