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Paypal: 3Q Earnings Snapshot

·1 min read

SAN JOSE, Calif. (AP) _ Paypal Holdings Inc. (PYPL) on Monday reported third-quarter earnings of $1.02 billion.

The San Jose, California-based company said it had net income of 86 cents per share. Earnings, adjusted for one-time gains and costs, were $1.07 per share.

The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.

The technology platform and digital payments company posted revenue of $5.46 billion in the period, which also topped Street forecasts. Twelve analysts surveyed by Zacks expected $5.4 billion.

Paypal shares have increased 74% since the beginning of the year. In the final minutes of trading on Monday, shares hit $187.76, a climb of 80% in the last 12 months.

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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