Transaction volume through PayPal for Q3 2023 grew to nearly $423 billion
- PayPal's revenue for the quarter was up 6% to $7.85 billion
- Net income amounted to $1.01 billion, i.e. EPS was $0.99
- Payment volume grew 9%, already up to $422.6 billion
- Operating margins exceeded estimates, already up 18.8%
- The number of active accounts grew by 1%, to 432 mln pcs
- PayPal transaction margin increased by 1.2 p.p. to 46.6%
- Q4 2024 revenue to grow by “single digits”
- Analysts were expecting revenue growth of 5.4% to $8.46 billion
- EPS for the quarter is expected to be in the range of $1.07-1.11
- The number of PayPal debit card users has already reached 1 mln people
- The volume of payments of Venmo service showed growth of 8%
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Finix, the full-stack payment processor, announced it has raised $75 million in Series C funding
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OpenAI's first chip partners will be Broadcom and TSMC
- OpenAI has enlisted Broadcom and TSMC to build its chip
- The company wants to reduce supply risks and costs of AI chips
- OpenAI declined to set up its own production facility
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