Tag

Apple, which ranks first, now has a valuation of more than $170 billion while Google, which occupies the No. 2 spot, is valued at more than $120 billion.

They project GAAP earnings of between 89 cents and 95 cents per share and non-GAAP earnings of between $1.23 and $1.27 per share. Loss from discontinued operations net of income taxes was reported to be $599 million.

The transaction, which values each Xoom share at $25, represents a premium of 32 per cent over Xoom’s three-month volume-weighted average price, Ebay Inc, PayPal’s parent company, said in a press statement. “PayPal will also help Xoom grow by offering...

PayPal, a subsidiary of eBay, will pay $25 per share of Xoom in what amounts to a premium of 32 percent over the stock’s average price over the past three months.

Therefore, it would extend PayPal’s current offering for its existing 68 million active users in the USA. PayPal would end up paying nearly $890 million for the company, exclusive of Xoom’s cash and short term investments along with its debt. Xoom’s stock jumped 21 per cent in...