Week 3 of earnings season brought with it some telling disclosures about online travel and video ad spend, 5G chip sales and e-commerce and payments activity, among other things.
Here’s a recap of some notable things that were shared over the last few days by reporting tech companies.
Roku and The Trade Desk
The 32% annual YouTube ad sales growth that Alphabet (GOOG) reported on Oct. 29 already signaled that online video ad spend was (like many other kinds of online ad spend) on the upswing as brand ad budgets loosen up.
But Roku (ROKU) and The Trade Desk’s (TTD) results and commentary arguably did more than just that: They suggested there’s a major inflection in online video ad spend as dollars are grabbed from traditional TV ad budgets amid major TV ratings declines and accelerated cord-cutting.
Roku, which rose 12.6% post-earnings on Friday, reported that its monetized video ad
PayPal recorded its strongest total payment volume growth in company history and continued to rapidly attract users in Q3 2020.
And its new offerings should help it reach even greater heights.
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The company racked up $247 billion in total payments volume in Q3 2020, surging 36% year over year (YoY)—the strongest growth performance in company history, per its earnings release.
PayPal recorded its strongest total payment volume growth in company history.
Meanwhile, its net new account growth dropped from its astronomical 137% YoY growth in Q2 to 55% YoY growth in Q3, but that still allowed it to add a whopping 15.2 million accounts and significantly outperform its 7% YoY growth from Q3 2019. A coronavirus pandemic-driven uptick in ecommerce
(Reuters) – PayPal Holdings Inc beat Wall Street estimates for quarterly revenue and profit on Monday, boosted by a surge in digital payments as COVID-19 lockdowns worldwide drove more businesses online, but it forecast current-quarter profit below expectations.
Shares of the digital payments processor fell more than 6% in extended trade.
For the fourth quarter, PayPal expects adjusted profit to grow in a range of 17% to 18%, below analysts’ estimated growth of about 24%, according to IBES data from Refinitiv.
PayPal Chief Executive Dan Schulman said in a call with analysts that the company was giving a more prudent estimate for the fourth quarter in part because of uncertainty due to the pandemic and its impact on the global
On June 23 of this year I reported on the rumors regarding PalPay and Venmo to enable Bitcoin buying/selling:
MORE FROM FORBESBuzz Of PayPal & Venmo to Facilitate Crypto Buying/SellingBy Nicholas Gans
PayPal PYPL officially announced its plans to allow its ~350 million users to buy and sell Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. This news came amid a steady run-up in the crypto markets, with Bitcoin up ~80% YTD and 3% since its low in March:
This announcement has catalyzed discussion about the adoption and institutionalization of digital assets. There are opposing views from within the community in regards to both the significance of this news, and whether it is supportive or detrimental to the vision of a decentralized financial future.
Not your keys… While this move will allow more individuals the ability
Hot on the heels of Nigel Farage’s declaration of war against the financial system and inducement to freedom-lovers everywhere to stock up on gold and silver, we now have another call to arms. But this time, it’s different. This time, it’s crypto.
So who’s waging this war that decentralised bros around the world are so excited about? Some kind of super-decentralised entity that is super not into fiat, we imagine?
That’s right, PayPal — one of the biggest payments companies in the world, with a market cap of $240bn — will soon be allowing its US users to buy, HODL, and sell bitcoin, bitcoin cash, ether (the crypto that powers Ethereum) and litecoin.
It’s not available for UK users yet but here are some screenshots from the PayPal app in the US, from Mike Dudas, founder of crypto site
PayPal has terminated the account of domain registrar and web hosting company Epik for violating its “risk controls,” prompting angry letters and blog posts from Epik alleging conservative bias was to blame, Mashable reported.
Seattle-based Epik is perhaps best known for its support of right-wing social media site Gab. The site was banned by its hosting company, domain registrar, and PayPal in 2018, after it was discovered that the alleged shooter at a Pittsburgh synagogue had written anti-Semitic tirades on Gab. In a 2018 blog post, Epik CEO Robert Monster criticized what he called the “digital censorship” by other sites.
According to Mashable, the issue that got Epik kicked off PayPal has to do with Epik’s digital “alternative currency” Masterbucks. It can be used to buy Epik products or converted into US dollars, and Mashable reports Epik did not
PayPal’s Bitcoin buy and sell service will be available to U.S. customers first
PayPal CEO said the shift to digital forms of currencies is inevitable
Bitcoin’s price achieved its 2020 high because of the PayPal news
Online payments giant PayPal Holdings Inc has announced its plan to soon allow its users to buy Bitcoin and other cryptocurrencies on its Paypal and Venmo platforms.
PayPal has obtained a conditional cryptocurrency license from the New York State Department of Financial Services, enabling it to to deal with cryptocurrencies such as Bitcoin and Ethereum. To offer the service, it partnered with Paxos Trust Company, a regulated cryptocurrency service provider, per Reuters.
PayPal Holdings said the service will be available to PayPal account holders in the U.S. in the coming weeks. After that, the company plans to expand the service to its Venmo mobile wallet and then to select countries in early
(Bloomberg) — Bitcoin surged past $13,000 for the first time since July 2019 after PayPal Holdings Inc. announced it will allow customers to use cryptocurrencies.
The largest digital coin increased $950, or 8% during tradition trading hours in New York. It climbed another 2% to $13,119 in early Asian trading. Gains among so-called alt coins were even bigger on Wednesday, with Litecoin jumping more than 13% and Bitcoin Cash surging more than 9%.
PayPal customers can buy, sell and hold cryptocurrencies including Bitcoin, Ether, Bitcoin Cash and Litecoin from digital wallets, as well as use the virtual money to shop at the 26 million merchants on its network. Shares of PayPal jumped 5.5% to $213.07, the biggest increase since May.
Mike Novogratz, who runs Galaxy Investment Partners, on Twitter called it “the biggest news of the year in crypto,” adding that banks will embark on a race to
LONDON (Reuters) – PayPal Holdings Inc
said on Wednesday it will allow customers to hold bitcoin and other virtual coins in its online wallet and shop using cryptocurrencies at the 26 million merchants on its network.
The new service makes PayPal one of the largest U.S. companies to provide consumers access to cryptocurrencies, which could help bitcoin and rival cryptocurrencies gain wider adoption as viable payment methods.
The San Jose, California-based company hopes the service will encourage global use of virtual coins and prepare its network for new digital currencies that central banks and companies may develop, President and Chief Executive Dan Schulman said in an interview.
“We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role,” he said.
U.S. account holders will be able to buy, sell and hold cryptocurrencies in their