PayPal is now looking for full-year revenue of between $17.6 billion and $17.8 billion.
The new range is well below Wall Street’s expected $17.92 billion.
Last quarter, PayPal announced that the app had 40 million users.
Analysts have been watching closely for when Venmo will become profitable for its parent company.
How much money does PayPal make a year?
In 2018, PayPal’s annual revenue amounted to 17.77 billion U.S. dollars, up from 15.45 billion in the previous year. The digital payment provider’s biggest revenue segment were transaction revenues, which amounted to 13.7 billion U.S. dollars during the most recently measured period.
How does PayPal make money?
PayPal makes money primarily by processing customer transactions on the Payments Platform and from other value-added services. Thus, the revenues streams are divided into transaction revenues based on the volume of activity or total payments volume.
Is PayPal going out of business?
One of the tech industry’s most storied partnerships is coming to an end. EBay announced today that it will stop working with PayPal as its back-end payments service in 2020 and will start to move a small percentage of its payments volume to a new partner later this year.
How much money is PayPal worth?
The digital-payments company should see a bright future as a standalone business, in contrast to former parent eBay’s need for a turnaround. When eBay bought PayPal in 2002, the price tag was a measly $1.5 billion. Now, about 13 years later, PayPal is worth nearly $50 billion and has outgrown its former parent.