Advertisement

Here's How Much PayPal Is Relying on Venmo

Here's How Much PayPal Is Relying on Venmo

Digital payments and financial technologist PayPal Holdings (NASDAQ: PYPL) continues to fire on all cylinders. Revenue rose 29% year over year to $6.03 billion in the first quarter, while free cash flow increased 27% to $1.22 billion. Mobile digital wallets are quickly becoming a staple for consumers around the world, and PayPal's Venmo subsidiary is an important part of its growth trajectory.