Why PayPal Stock Jumped 11% in November

Shares of PayPal Holdings (NASDAQ: PYPL) gained 11% in November according to data provided by S&P Global Market Intelligence. Investors were impressed with the new CEO's first earnings report, and it also benefited from an overall market rally.

PayPal is the leader in digital payment processing and peer-to-peer payments, even though it's been slowing down since its highs early in the pandemic. It processed nearly $388 billion in volume in the 2023 third quarter, a 15% increase over last year, and it has 428 million active accounts.

Revenue increased 9%, on a currency neutral basis, over last year, and adjusted earnings per share (EPS) increased from $1.08 last year to $1.30 this year in the third quarter, both ahead of management's guidance. Management raised guidance for full-year EPS to increase 21% to $4.98.

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Source Fool.com