Paypal: 2Q Earnings Snapshot
SAN JOSE, Calif. (AP) _ Paypal Holdings Inc. (PYPL) on Wednesday reported second-quarter earnings of $823 million.
On a per-share basis, the San Jose, California-based company said it had profit of 69 cents. Earnings, adjusted for one-time gains and costs, were 86 cents per share.
The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The technology platform and digital payments company posted revenue of $4.31 billion in the period, which did not meet Street forecasts. Twelve analysts surveyed by Zacks expected $4.33 billion.
For the current quarter ending in October, Paypal expects its per-share earnings to range from 69 cents to 71 cents.
The company expects full-year earnings in the range of $3.12 to $3.17 per share.
Paypal shares have climbed 44% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $121.30, a rise of 33% in the last 12 months.