PayPal surges 9% after its Venmo app shows signs of becoming a moneymaker

PayPal shares soared 9 percent on Friday after the company beat expectations on earnings and revenue and announced positive news about its peer-to-peer app Venmo. The payment company's stock hit a high above $86. Shares are up more than 26 percent year over year. On Thursday, PayPal reported third-quarter earnings that beat Wall Street's expectations, though payment volumes fell slightly short of estimates. The company also raised its fourth-quarter and full-year guidance.
Read more: https://www.cnbc.com/2018/10/19/paypal-surges-9percent-after-solid-earnings-growth-in-venmo-showing-the-app-may-finally-become-a-money-maker.html?source=Snapzu