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Why PayPal Stock Soared 58% in May

TheMotleyFool

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Shares of PayPal (NASDAQ: PYPL) jumped 26% last month, according to data from S&P Global Market Intelligence, following the release of the financial technology company's strong first-quarter results.

PayPal added more than 20 million net new active accounts, including the 10.2 million it obtained from its $4 billion acquisition of online savings platform Honey in January. That helped PayPal's total payment volume rise by 18%, which, in turn, fueled a 12% increase in revenue, to $4.6 billion.

PayPal's payment platform is growing at an impressive rate. Image source: Getty Images.

Source Fool.com

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