PayPal, Robinhood earnings: Top takeaways
08/03/2023 05:44
PayPal and Robinhood both traded lower in after-hours trading after reporting second quarter earnings. PayPal saw a rise in net revenues, total payment volume, and payment transactions. Robinhood beat expectations, but saw a loss in monthly active users. Dan Dolev, Mizuho Americas Senior Financial Technology Analyst, shares some of his top takeaways from the companies' earnings results. Dolev tells Yahoo Finance Live for PayPal, "the take rate or transaction profit dollars are down" and this "might be the reason why the stock is down." Dolev explains, "it’s kind of the interplay between the branded checkout, which is at a higher take rate, and the non-branded checkout, which is at a lower take rate. And that’s why it’s coming down, but that’s what people are worried about." PayPal needs "to start growing the branded checkout faster." For Robinhood, Dolev explains why he’s "super excited" about the company despite the stock being down as the monthly active users number dropped by a million. Dolev says, "the bottom line for me and the reason I’m excited is," if "you look at IRA," Robinhood has "a billion dollars already of IRA. Two, they beat revenues. Three, they’re actually growing, they’ve become gap profitable."
PayPal and Robinhood both traded lower in after-hours trading after reporting second quarter earnings. PayPal saw a rise in net revenues, total payment volume, and payment transactions. Robinhood beat expectations, but saw a loss in monthly active users. Dan Dolev, Mizuho Americas Senior Financial Technology Analyst, shares some of his top takeaways from the companies' earnings results. Dolev tells Yahoo Finance Live for PayPal, "the take rate or transaction profit dollars are down" and this "might be the reason why the stock is down." Dolev explains, "it’s kind of the interplay between the branded checkout, which is at a higher take rate, and the non-branded checkout, which is at a lower take rate. And that’s why it’s coming down, but that’s what people are worried about." PayPal needs "to start growing the branded checkout faster." For Robinhood, Dolev explains why he’s "super excited" about the company despite the stock being down as the monthly active users number dropped by a million. Dolev says, "the bottom line for me and the reason I’m excited is," if "you look at IRA," Robinhood has "a billion dollars already of IRA. Two, they beat revenues. Three, they’re actually growing, they’ve become gap profitable."