PayPal now most popular with 'Hipsters'
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When PayPal Holdings Inc (NASDAQ:PYPL) reported its 2016 fourth-quarter earnings there was a lot for investors to like. Revenue and earnings were both up by double-digit percentages, but, more importantly, other business fundamental metrics continued their consistently positive trends: Total active accounts increased 10 to 197 million. Payment transactions per active account are now a shade over 31, a 13 year over year increase.
What might have been most impressive was the continued explosive growth of the P2P payment app, Venmo. For the quarter, Venmo processed $5.6 billion in payment volume, an incredible 126 increase year over year. In December 2016, Venmo crossed the $2 billion total payment volume threshold in a single month for the first time. It was only earlier in 2016 when it crossed the $1 billion threshold in a single month for the first time.
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