Hot Tech stock to watch: Paypal Holdings Inc (NASDAQ: PYPL)

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Paypal Holdings Inc (NASDAQ: PYPL) stock rose over 3.1% on April 26th, 2018 (as of 10:28 AM GMT-4; Source: Google finance) while the stock rose over 65.5% in the last one year (Source: finviz)

The group added 8.1 million net new actives, which is a rise of 35% on a year-over-year basis leading to a total active accounts to 237 million. Ongoing growth of core PayPal and Venmo users coupled with their Customer Choice initiative drove this performance. Merchant base reached 19 million accounts. The group continued to make improvements to their technology platform and product experiences boosting their engagement. PayPal has 34.7 transactions per active account, which is a rise of 8%. The group processed 49 billion in mobile payment volume which is a rise of 52% year-over-year and mobile payments currently represent 37% of their total payment volume as of the first quarter of 2018. Credit is and continues to be a strategic part of PayPal’s offering to consumers and businesses.

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PayPal processed 132 billion in TPV in the quarter, which is a rise of 32% on a spot basis while increased 27% on a currency neutral basis. New products and services launch coupled with ongoing expansion of their global footprint drove volume growth.

Venmo acquisition led to net new actives during the first quarter as compared to last quarter while processed 12.3 billion in payment volume, which is a rise of over 80% against pcp. Venmo is currently on a run rate to generate over 50 billion in TPV in 2018. Paying with Venmo has deployed more than 2 million merchants across the US with major brands like Grubhub, Seamless and Williams-Sonoma, installing dedicated pay with Venmo button. One Touch had 92 million consumers as  of first quarter and 8.6 million merchants.

The group also generated 3.69 billion of revenue in Q1, which is a rise of 24% on a spot basis and 22% on a currency neutral basis. They delivered 829 million in non-GAAP operating income, rising 29% on a  year-over-year basisi, boosted by 90 basis point rise in their non-GAAP operating margin, which was 22.5% for the quarter. As a result, they delivered $0.57 of non-GAAP EPS, up 29% year-over-year.

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