Paypal Holdings Inc (PYPL) CFO Breaks Down Monetization of Venmo

NASDAQ: PYPL | PayPal Holdings, Inc. News, Ratings, and Charts

PYPL – The exec recently chatted with CNBC’s Jim Cramer.

As part of its recent earnings report, Paypal Holdings Inc (NASDAQ:PYPL) reported that its Venmo app saw a staggering 80 percent growth in total volume over the most recent quarter. CFO John Rainey recently chatted with CNBC’s Jim Cramer about hose the company is poised to cash in on the surging interest in Venmo.

CNBC has the details.

A quarter of Venmo users are currently using PayPal’s millennial-friendly payments app in a way that the financial technology company can monetize, PayPal Chief Financial Officer John Rainey told CNBC on Friday.

“If we look at the most recent quarter, roughly one in four Venmo customers are using Venmo in a way today that we’re able to monetize,” Rainey said in an exclusive interview with “Mad Money” host Jim Cramer.

“That could be with using Venmo to shop online, it could be using our physical card in a store, or it could be using the instant cash withdrawal so they can transfer funds immediately into their bank account,” he explained.

Paypal Holdings Inc shares rose $0.87 (+1.03%) in premarket trading Monday. Year-to-date, PayPal Holdings, Inc. (PYPL - Get Rating) has gained 15.16%, versus a 4.87% rise in the benchmark S&P 500 index during the same period.

PayPal Holdings, Inc. (PYPL - Get Rating) currently has a StockNews.com POWR Rating of B (Buy), and is ranked #5 of 38 stocks in the Consumer Financial Services category.

9 "Must Own" Growth Stocks For 2019

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

Top Stories on StockNews.com

: ACB | Aurora Cannabis Inc. Common Shares News, Ratings, and Charts

Are shares of Aurora Cannabis (ACB) getting ready to break out?

Aurora Cannabis has been under downward pressure lately, primarily because of the broader market becoming increasingly risk averse.
NYSE: ORCL | Oracle Corporation Common Stock News, Ratings, and Charts

Macquarie Research downgrades Oracle (ORCL) to Neutral

Oracle Corporation was downgraded Tuesday by Macquarie.
NASDAQ: GOOGL | Alphabet Inc. - Class A Common Stock News, Ratings, and Charts

Google (GOOGL) Calendar experiencing a worldwide outage

Google’s website says it has been experiencing a service disruption since about 10:22 a.m. Eastern.
NYSE: BA | Boeing Company (The) Common Stock News, Ratings, and Charts

Boeing (BA) receives a new order for 737 Max planes from British Airways' parent company

IAG said it would buy 200 737 Max planes, orders for which ground to a halt after two fatal crashes.
: hexo | HEXO Corp. Common Shares News, Ratings, and Charts

After its recent dip, is pot stock Hexo (HEXO) a Buy?

Note that the HEXO stock price is about 50% off its 52-week high.

Read More Stories


More PayPal Holdings, Inc. (PYPL) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All PYPL News
Page generated in 1.3874 seconds.