Inside PayPal's Q4 report
"A digital-first world is no longer our future. It's our current reality, and it will forever change the way we interact across almost all elements of our lives." - Dan Schulman, PayPal CEO
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On Thursday morning, PayPal rose +5% after topping Q4 estimates on both top and bottom line metrics, driven by +39% year over year growth in payment volumes.
Payment volume growth was led by Paypal's Venmo platform, which saw its volumes grow a whopping +60% year over year.
We believe the core of this outperformance came down to strong consumer adoption of its crypto and "Buy Now Pay Later" products, which we believe were also key in helping the the company add 16 million active new users in Q4.
Overall, we were pleased with the quarter and look forward to continued growth in engagement and volumes in 2021, which may see further upside should travel and event activity begin to normalize.