Thanks to a surge in online shopping over the past year, PayPal reported a rise in profits in the fourth quarter.
For the last three months of the year, the group’s profits rose 209% to $1.6 billion (£1.2 billion). Revenue also rose 22% to $6.1 billion.
PayPal has added a new 73m NET active account, bringing total payments to $93.6 billion.
President and CEO Dan Schulman said: In this historic year, we have released more products than ever before, dramatically accepted worldwide, and have more reasons to use the platform for 377 million consumers and merchants accounts I did. ”
In 2021, PayPal forecasts a profit of $25 billion. Stocks rose by more than 5% in trading outside of business hours to 265,82. PayPal stock has grown 40% over the past three months.
Darrin Peller, research analyst at Wolfe, wrote in a note: 2021. ”
