American clothing brand Gap 'terribly sorry' over China map shirt omitting Taiwan
AT&T: Hiring Trump attorney Cohen was 'big mistake'
The Coca-Cola (NYSE:KO) Posts Earnings Results, Beats Estimates By $0.01 EPS
California Mandates Solar Panels on New Homes
Deeply committed Big Mac fan eats his 30000th burger
EBay will switch to Adyen payments platform from PayPal
02 February 2018, 09:18 | Ruby West
Telos Capital Management Inc. Sells 2203 Shares of Paypal Holdings Inc (PYPL)
Since the beginning of the calendar year, the stock is 15.89%.
"Over time, given the recent agreements with Visa and MasterCard, PayPal will be able to scale and expand margins", Wedbush Securities analysts said in a client note.
Ebay has stated that there will be a number of benefits for buyers and sellers with the new payment system, one of the biggest ones being lowered costs of payments processing for sellers as well as a simplified pricing structure and "more predictable access" to sellers funds. Customers choosing to pay with PayPal, the part of the eBay business that remains, is far more profitable than the backend processing volume that is moving to Adyen, he argued.
The company processed $131 billion in total payments volume for the fourth quarter, showcasing 32% growth. Adyen will become the primary payments processor for eBay sites across the world, but the company's business is exclusively focused on providing back-end payments services, like credit card processing, to businesses.
PayPal Holdings (PYPL) announced earnings of $0.55 per share yesterday, which exceeded Wall Street expectations of $0.52 per share. As a matter of fact, eBay purchased the online payment company for $1.5 billion United States dollars in 2002. The two operations were joined at the hip, and eBay used PayPal as its nontraditional way to spend money at the online auction site.
In Thursday morning trading, EBAY was trading 13% higher on the news, while PYPL was down 9%.
PayPal will remain on eBay's platform until at least July 2023.
This is in spite of PayPal's CEO Dan Schulman telling analysts that their changing relationship with eBay was "manageable". Also, PayPal will cease to process card payments for eBay after 2020.
Giant eBay brought earnings of $2.61 in revenue in its latest quarter.
The announcement surprised some investors, who expected the companies to announce an extension to their operating agreement.
In terms of earnings per share, 37 analysts have a 0.54 EPS mean target for the quarter ending Mar-18, for the quarter ending Jun-18, 37 analysts have a 0.54 EPS mean target and for the quarter ending Jun-18 there are 44 estimates of 2.26 EPS.
So this breakup has got to sting a little, even if PayPal has long since moved on to sowing its wild oats across the rest of the e-commerce industry. A strong and prospering eBay is a good thing, but only time will tell. Earnings excluding some costs were 55 cents a share, compared with the average forecast for 52 cents.
White House Eyes End of Funding for Space Station
The administration also seeks to establish a space station, called Deep Space Gateway , in the vicinity of the moon. NASA astronauts step out on a spacewalk to fix the robotic arm at the International Space Station .
Ex-BBC Scotland journalist 'paid less than male colleagues'
Some presenters told the committee that they were offered rises shortly before the BBC published its list of high earners. The group provided 14 examples of women who described frustrating battles with managers over pay discrimination.
Apple's new iOS 11.3 update, here's all you need to know
Now it it easier to update to stay up to date to the most important videos on Apple News with the new video group in option. The launch partners include Hilton Hotels, Discover financial services, Lowes home improvement and Wells Fargo.
Nokia 3310 with 4G VoLTE, YunOS launched in China
It is also expected that HMD Global might showcase the Nokia 3310 4G at the upcoming Mobile World Congress in Barcelona, Spain. Apparently, it's been working well for them because the company is now introducing a 4G version of the phone in China .
Dutch Spies Exposed Russian Hackers in US Election Meddling
Their camera access was said to add to evidence that the hacks from the group were backed by Russia's Foreign Intelligence Agency. And it was the information that they were able to provide to the United States shed light on Cozy Bear .