PayPal’s initiatives to monetize its Venmo customer base seems to be paying off with the company’s social payments platform, processing more than $40 billion of total payment volume over the year. In the first quarter, total payment volume of Venmo shot up 80% to more than $12 billion of total payment volume.
For fiscal year 2018, PayPal expects revenue to increase 16% to 18% at current spot rates translating to a range of $15.20 billion to $15.40 billion. Reported EPS is expected in the range of $1.73 to $1.76, while excluding special items, the company expects earnings per share in the range of $2.31 to $2.34.
For second quarter 2018, PayPal is seeing revenue growth rate of 21% to 22% at current spot rates translating to a range of $3.78 billion to $3.83 billion. On a reported basis, EPS is expected in the range of $0.41 to $0.43 and excluding special items, earnings per share is targeted in the range of $0.54 to $0.56.