PayPal’s third-quarter profits were better than anticipated on Tuesday, although revenue was a little below projections.
This is the company’s performance in relation to Wall Street estimates, as determined by an LSEG survey of analysts:
Earnings per share: adjusted to $1.20 from the projected $1.07 Revenue: $7.85 billion instead of the projected $7.89 billion
Revenue was up almost 6% during the quarter compared to $7.42 billion during the same time last year.
After reporting $1.02 billion, or 93 cents per share, a year earlier, PayPal’s net income was $1.01 billion, or 99 cents per share. This is the first earnings report that CEO Alex Chriss has released since he became a one-year employee in September.
Chriss joined the payments company, which at the time was in a deep slump due to increased competition and a sliding take rate—the proportion of income PayPal keeps from each transaction—and the stock has risen 36% this year and 42% since Chriss joined the company.
Source (CNBC)
