Headquartered in San Jose, CA, PayPal Holdings (PYPL – Free Report) is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. The company was spun-off from eBay in 2015.

They facilitate customers to pay and get paid, withdraw funds from their bank accounts and hold balances in their PayPal accounts in various currencies.

They also provide ways for businesses to accept payments from merchant websites, mobile devices and applications, and at offline retail locations through a wide range of payment solutions. Their payments platforms include PayPal, PayPal Credit, Venmo and Braintree products.

Impressive Results

The company reported excellent Q3 2017 results, beating the Zacks Consensus Estimates on both the top and bottom lines. The management also raised the guidance for the year.

Adjusted earnings of 46 cents per share were ahead of our consensus by 2 cents and up 31.4% year over year. Net revenue of $3.24 billion also beat the Zacks Consensus Estimate by $66 million and was up 21.4% on a year-over-year basis. It was also ahead of the company’s own guidance.

“PayPal delivered one of its strongest quarters since becoming an independent company. Putting our customers first in everything we do, enhancing our suite of products and services, and partnering with some of the world’s most popular brands are delivering tangible results,” said the CEO. “As the world rapidly accelerates to digital payments, we have a tremendous opportunity in front of us.”

Rising Earnings Estimates

Analysts have raised their estimates for the company after excellent earnings. Zacks Consensus Estimates for the current and next fiscal year have increased to $1.85 per share and $2.25 per share from $1.84 and $2.20, before the results.

The company has never missed estimates, as you can see from the beautiful chart below:

PayPal Holdings, Inc. Price and Consensus