Fast Money Blog- 11/6/20

On Monday, November 2nd, PayPal Holdings Company (PYPL) delivered outstanding results for Q3. The company reported top-line revenue of $5.4 billion up from $4.3 billion year over year, making this “one of the strongest” quarters in the company’s history.

PayPal added 15.2 million net new active accounts in the third quarter, including 1.5 million merchants. In addition, they reported Total Payment Volume (TPV) of $247 billion, growing 38% year over year, and $4 billion in payment transactions, up 30% year over year.

Square, Inc. (SQ) reported Q3 earnings on Thursday, Nov. 5th. Square’s top-line revenue for the third quarter climbed to $3.03 billion up from $1.27 billion, a growth of 139.6% on a year-over-year basis.

Square said gross payment volume, or GPV, from merchant customers rose 9% to $31.7 billion. Moreover, subscription and services-based revenue climbed 60% to $448 million

I have endorsed both PayPal and Square for the last 36 months. I view these companies as dominant players in the online credit card transaction space.

In my view both PYPL and SQ are great “dates” and outstanding long-term holds.

Tyrone Jackson

The Wealthy Investor