Venmo, long viewed as a business laggard for PayPal, is generating much faster revenue growth than the overall company.

PayPal (PYPL) shares drop after analysts lower price forecast/rating due to Q1 results missing estimates, but EPS and revenue ...

Ahead of the earnings report, Jefferies analysts noted that Venmo revenue growth appeared to be "accelerating sharply" and flagged its rising contribution to branded checkout as a key area to watch.