Venmo revenue grows 20%, with debit card payment volume soaring
1. Venmo revenue grew 20% in Q1, indicating strong business potential. 2. Total Venmo payment volume rose 10%, but revenue growth was twice as fast. 3. PayPal added nearly 2 million debit card users, boosting total payment volume over 60%. 4. Despite better-than-expected earnings, PayPal missed revenue targets, citing macroeconomic uncertainty. 5. Analysts emphasize Venmo's increasing contribution to branded checkout and monetization opportunities.