PayPal's parent eBay has announced financial results for 1Q2014 which included strong growth numbers for its PayPal business unit.
PayPal revenue increased 19% in the quarter resulting in net revenues of $1.85 billion in the quarter. PayPal gained 5.8 million new active registered accounts in the quarter and ended the year with 148 million, a 16% increase.
PayPal's net total payment volume (TPV) grew 27% in the quarter with 834 million transactions generating $52 billion in net TPV for the quarter.
eBay reports that PayPal's 'take rate" was 3.55%, down from 3.77% in the same quarter last year. As compared to the prior quarter, PayPal's transaction expense increased slightly to 0.99% while the loss rate decreased to 0.27%.