Earnings Review: PFs Report Strong Results in Third Quarter

As PaymentFacilitator.com previously reported, Square released its earnings report last week, again beating analyst expectations. Following on the heels of that report, we take a look at how other companies that have embraced the payment facilitator approach fared during the last quarter.

PayPal, which reported its 3Q earnings Oct. 19, attributed a strong performance to its reinvention as an open digital platform. The company reported a 22% increase in revenue to $3.24 billion. Total payments volume for the quarter was $114 billion over 1.9 billion transactions, the company said. Its GAAP net income was $380 million.

Leading commerce platform Shopify reported on Oct. 31. Its total revenue for the quarter was $171.5 million, up 72% from last year. The company grew its gross payments volume to $2.4 billion, an increase from last year’s $1.5 billion. It had a net loss of $9.4 million. The company also reported that Shopify Capital issued cash advances totaling $44.1 million to merchants during the third quarter.

Several public companies supporting specific verticals also reported earnings recently:

Blackbaud, which provides a cloud-based software for non-profits, reported $195.5 million in GAAP revenue, an increase of 6.8% over last year. In its Oct. 25 announcement, it said it had a total GAAP net income of $12.5 million during the quarter. Nearly two-thirds of its total revenue is subscription revenue, the company said.

FTD Companies, a florist network, reported total revenues of $161.3 million on Nov. 8, which was down 6.7% from the previous year. The company’s net loss for the quarter was $76.3 million.

RealPage provides software to the real estate industry. Its Nov. 2 announcement of 3Q earnings reported total revenue of $169.1 million, up 14% from last year. The company’s net income increased 62% over last year to $6.8 million, it said.

Self-service retail payments provider USA Technologies announced its first quarter fiscal year 2018 results on Nov. 8. Its revenue for the quarter was $25.6 million, up 19% year-over-year. This represented the 32nd consecutive quarter of growth, the company said. It reported a net loss of $0.2 million and processed $239.2 million in transaction volume, an increase over $183.4 million compared to the same time last year.