Transaction volume through PayPal for Q3 2023 grew to nearly $423 bill

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%

Finix, the full-stack payment processor, announced it has raised $75 million in Series C funding

The initiative was spearheaded by A Crew Capital, with Leap Global and Lightspeed Venture Partners co-leading, and new investors, including Citi Ventures and Tribeca Venture Partners, joining in. Existing investors such as Homebrew, Insight Partners, Inspired Capital, and Cap Table Coalition also contributed. Finix is a cutting-edge platform that empowers businesses to streamline their payment pr

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 - Reasons for the decision include high costs, timelines, etc. - OpenAI is one of the largest buyers of AI chips - It uses the chips for AI training and logic inference - OpenAI and Broadcom have been working on the AI ch

Transaction volume through PayPal for Q3 2023 grew to nearly $423 billion

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Finix, the full-stack payment processor, announced it has raised $75 million in Series C funding

OpenAI's first chip partners will be Broadcom and TSMC