6 years ago
PayPal surges 9% after its Venmo app shows signs of becoming a moneymaker
PayPal shares soared 9 percent on Friday after the company beat expectations on earnings and revenue and announced positive news about its peer-to-peer app Venmo. The payment company's stock hit a high above $86. Shares are up more than 26 percent year over year. On Thursday, PayPal reported third-quarter earnings that beat Wall Street's expectations, though payment volumes fell slightly short of estimates. The company also raised its fourth-quarter and full-year guidance.
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