PayPal (NASDAQ:PYPL) has reported its Q3 earnings, which were capped off by strong revenues and earnings growth on a yearly basis, helping catapult the group’s share prices to a fresh 52-week high, according to a PayPal statement.
PayPal’s revenues climbed higher in Q3 2016 to $2.67 billion on a neutral foreign exchange (FX) basis – this was virtually unchanged QoQ from $2.65 billion in Q2 2016. However, over a yearly basis, Q3’s revenues at the payments provider swelled 18.0% YoY from Q3 2015.
In addition, PayPal’s GAAP earnings per diluted share (EPS) also illustrated a growth of 8% YoY to $0.27 in Q3 2016, also unchanged QoQ from $0.27 in Q2 2016, as well as a non-GAAP EPS growth of 14% YoY to $0.35 from Q3 2015.
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One area that did see a notable rise on a quarterly basis was PayPal’s operating cash flow, having come in at $801 million with a free cash flow of $618 million in Q3 2016. This was good for a jump of 15.1% QoQ from an operating cash flow of $696 million in Q2 2016, and 24.8% QoQ from a free cash flow of $495 million in Q2 2016.
During Q3 2016, active customer accounts were recorded at 192.0 million in Q3 2016, compared with 188.0 million accounts in Q2 2016, or 2.1% QoQ. The latest account figures also justified an 11% YoY growth of 19 million active customer accounts from Q3 2015.
A total of 1.5 billion transactions were processed in Q3 2016 at Paypal, climbing 7.1% QoQ from 1.4 billion transactions processed in Q2 2016. Over a yearly timeframe, Q3’s transactions were also higher by a factor of 24.0% YoY from Q3 2015.
PayPal (NASDAQ:PYPL) share prices were notably higher on the release, climbing to a fresh 52-week high of $43.53. At the time of writing, shares are trading at $43.49 during US trading Friday.