PayPal stole the spotlight from parent company eBay Inc. today. Within eBay’s earnings report was the announcement of 137 million PayPal users.
“PayPal gained 5.0 million active registered accounts and ended the quarter with 137 million, a 17% increase,” the earnings release stated.
The implication of these strong growth numbers is that what PayPal is doing — which is includes a major app update and continuing expansion into brick-and-mortar business — is bringing in new users in strong numbers.
The payments provider is a bright light for the San Jose-based eBay, announcing a 19% increase in revenue to $1.6 billion, while eBay as a whole increased revenue 14%.
PayPal’s total payment volume grew 25% to $44 billion, it was also announced.