Paypal: 4Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ Paypal Holdings Inc. (PYPL) on Wednesday reported fourth-quarter earnings of $584 million.
The San Jose, California-based company said it had profit of 49 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 69 cents per share.
The results exceeded Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.
The technology platform and digital payments company posted revenue of $4.23 billion in the period, which missed Street forecasts. Thirteen analysts surveyed by Zacks expected $4.24 billion.
For the year, the company reported profit of $2.06 billion, or $1.71 per share. Revenue was reported as $15.45 billion.
For the current quarter ending in April, Paypal expects its per-share earnings to range from 66 cents to 68 cents.
The company expects full-year earnings in the range of $2.84 to $2.91 per share.
Paypal shares have increased nearly 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $92.42, a climb of 10 percent in the last 12 months.