SAN JOSE, Calif. (AP) _ Paypal Holdings Inc. (PYPL) on Wednesday reported second-quarter earnings of $1.53 billion.
On a per-share basis, the San Jose, California-based company said it had net income of $1.29. Earnings, adjusted for one-time gains and costs, were $1.07 per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The technology platform and digital payments company posted revenue of $5.26 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $4.96 billion.
Paypal shares have climbed 71% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $184.60, a climb of 66% in the last 12 months.