PayPal Reports Fourth Quarter Revenue Growth

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After the stock market closed on Thursday, PayPal reported its fourth quarter earnings, which were very much in line with Wall Street predictions.

The online payment company’s revenue rose to $2.98 billion, giving a yield of 42 cents for earnings per share. This represents a 17% increase from last year, almost completely in line with analyst estimates. Total payment volume was $99 billion, a 22% increase from last year. Payment volume results slightly undershot investor expectations of $101 billion, but by a very slim margin. PayPal stock is also down 14 cents at $41.36.

Founded in 1998, PayPal is still often associated with the older days of the Internet; however, the company has been focused on making its services more efficient and more integrated with modern systems, acquiring the mobile payments platform Braintree, which helps PayPal profit off of Uber and Airbnb transactions. PayPal has also entered into talks with Amazon recently, discussing the possibility of letting shoppers make Amazon purchases through PayPal accounts.