Paypal: Q3 Earnings Snapshot
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Paypal Holdings Inc. (PYPL) on Wednesday reported third-quarter net income of $1.02 billion.
On a per-share basis, the San Jose, California-based company said it had net income of 93 cents. Earnings, adjusted for one-time gains and costs, were $1.30 per share.
The results exceeded Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.
The technology platform and digital payments company posted revenue of $7.42 billion in the period, also beating Street forecasts. Fourteen analysts surveyed by Zacks expected $7.39 billion.
For the current quarter ending in December, Paypal expects its per-share earnings to be $1.36.
The company expects full-year earnings to be $4.98 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PYPL at https://www.zacks.com/ap/PYPL