PayPal has posted a net income of $584m for the fourth quarter of 2018. The figure marks a fall of 6% compared to $620m in the comparable quarter in 2017.

PayPal’s net revenues for the quarter ended 31 December 2018 stood at $4.22bn. This is up 13% from $3.74bn in the same quarter last year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The firm processed $164bn in total payment volume (TPV) during the quarter. This is a growth of 23%, or 25% on FX-neutral basis.

It processed about $67bn in mobile payment volume during the period. This represented an increase of around 40% on a year-on-year basis and 41% of overall TPV.

The firm’s social payments platform Venmo processed around $19bn of TPV, an 80% surge from the previous year.

PayPal added 13.8 million net new active accounts during the period, including 2.9 million net new active accounts from the takeovers of Hyperwallet and iZettle.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The firm carried out 2.9 billion payment transactions during the quarter.

PayPal president and CEO Dan Schulman said: “In 2018 we set new benchmarks for the company for revenue, net new active accounts and engagement across our platform. We launched new products, strengthened existing relationships, and entered into new strategic partnerships with some of the biggest and most influential global brands in technology, retail, and finance.

“We greatly expanded our global reach, serving 267 million customer accounts, including 21 million merchant accounts.

“We believe 2019 will be another strong year for us, and we intend to build on our strengths to extend our leadership as the leading open digital payments platform.”