Shares of Fifth Third Bancorp (NASDAQ:FITB) ended Friday session in green amid volatile trading. The shares closed up +0.06 points or 0.30% at $20.10 with 4,294,094 shares getting traded. Post opening the session at $20.11, the shares hit an intraday low of $19.90 and an intraday high of $20.14 and the price vacillated in this range throughout the day. The company has a market cap of $15.45 billion and the numbers of outstanding shares have been calculated to be 766.37 million shares.
Fifth Third Bancorp (FITB) on September 2, 2016 announced that Fifth Third Bank has submitted a redemption notice to the issuing and paying agent for redemption of all of the outstanding 1.15% fixed rate senior notes due November 18, 2016 (CUSIP 31677QAY5) issued in the principal amount of $1 billion and all of the outstanding floating rate senior notes due November 18, 2016 (CUSIP 31677QAZ2) issued in the principal amount of $750 million by Fifth Third Bank. The notes will be redeemed on October 19, 2016, pursuant to their terms and conditions for an amount equal to 100% of the principal amount plus accrued and unpaid interest to, but excluding, the redemption date.
Shares of Paypal Holdings Inc (NASDAQ:PYPL) ended Friday session in green amid volatile trading. The shares closed up +0.24 points or 0.65% at $37.07 with 6,726,906 shares getting traded. Post opening the session at $37.01, the shares hit an intraday low of $36.30 and an intraday high of $37.12 and the price vacillated in this range throughout the day. The company has a market cap of $45.03 billion and the numbers of outstanding shares have been calculated to be 1.21 billion shares.
Paypal Holdings Inc (PYPL) on July 22, 2016 announced results for the second quarter ended June 30, 2016. For the quarter, PayPal gained market share, expanded its customer base, deepened engagement with customers and delivered on its financial commitments. The company also announced a long-term partnership agreement with Visa.
Financial highlights for the second quarter include:
- Revenue growth of 15% to $2.650 billion, or 19% on a foreign currency neutral (FX-neutral) basis
- Revenue growth on a non-GAAP pro forma basis of 16%, or 19% on a non-GAAP pro forma FX-neutral basis
- GAAP operating margin of 14% with non-GAAP operating margin of 20%
- GAAP earnings per diluted share (EPS) growth of 7% to $0.27, non-GAAP EPS growth of 11% on a pro forma basis to $0.36
- Operating cash flow of $696 million, free cash flow of $495 million
- Returned $300 million to stockholders, repurchasing 8 million shares of common stock
Operating highlights for the second quarter include:
- Active customer accounts of 188 million, up 11%
- 1.4 billion transactions processed, up 25%
- 29 payment transactions per active account on a trailing twelve-month basis, up 13%
- $86 billion in total payment volume (TPV), up 28% on a spot basis, and 29% on an FX-neutral basis
“We have a clear mission at PayPal. We want to democratize financial services and become an everyday, essential service for underserved consumers,” said Dan Schulman, President and CEO of PayPal. “We want to use our platform and services to enable merchants to fully capitalize on the move to mobile and digital commerce. Our strong financial performance is one sign of the tangible and consistent progress we’ve made towards achieving these goals. Our agreement with Visa enhances our capabilities, offers the potential to establish new contexts for our consumers and merchants, and lays the foundation for additional partnerships.”