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Paypal: 4Q Earnings Snapshot

·1 min read
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SAN JOSE, Calif. (AP) _ Paypal Holdings Inc. (PYPL) on Wednesday reported fourth-quarter net income of $1.57 billion.

The San Jose, California-based company said it had profit of $1.32 per share. Earnings, adjusted for one-time gains and costs, came to $1.08 per share.

The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1 per share.

The technology platform and digital payments company posted revenue of $6.12 billion in the period, also exceeding Street forecasts. Thirteen analysts surveyed by Zacks expected $6.06 billion.

For the year, the company reported profit of $4.2 billion, or $3.54 per share. Revenue was reported as $21.45 billion.

Paypal expects full-year earnings to be $3.20 per share.

Paypal shares have climbed nearly 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $251.90, more than doubling 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