PayPal Holdings has come up with their first quarter profit report this year. Backed by higher volume of mobile payments and merchant services, the company has managed to beat the estimates. During the first quarter of 2018, PayPal has witnessed a turnout of $132 billion – marking a 32 percent increase from previous year. As far as Mobile Payments are concerned with, there is an increase of 52 percent from the previous quarter, and stands at $49 billion. On the other hand, Merchant service payment volume met with a 30 percent increase. All these contributed to the company beating its estimates of $3.59 billion, and clocking $3.69 billion.
Backed by a strong first quarter performance, the company has raised the revenue forecast for the full year from $15 – 15.2 Billion to $15.2 – 15.4 billion.