PayPal (PYPL) Stock Drops in After-Hours Trading, Revenue Misses Forecasts - TheStreet

NEW YORK (TheStreet) -- PayPal (PYPL) - Get Report  shares are down 3.03% to $34.85 in after-hours trading following the digital payments company's third quarter fiscal 2015 earnings results. While profit topped analysts' forecasts, revenue missed. 

This is the company's first quarter as a standalone company since spinning of from eBay (EBAY) in July. 

For the latest quarter ended September 30, the company earned 31 cents a share on revenue of $2.26 billion. 

Analysts had estimated the company to earn 29 cents a share on revenue of $2.27 billion.

In the same period the year before, the company earned 33 cents a share on revenue of $2.29 billion.

"We are operating in a time when change is sweeping through the financial services industry driven by the rise of mobile technology and the acceleration of money becoming digital," said CEO Dan Schulman. "These two massive trends play directly to our strengths and we are leveraging this transformation to extend and accelerate our lead."

During the latest quarter, the company's total payment volume increased 27% year-over-year on an FX neutral basis to $70 billion. 

Additionally, the company said its customer base is now 173 million, up from 169 million active users in the second quarter of fiscal 2015.

Looking ahead, the company forecasts full-year net revenues to increase 15% to 18%, and earnings to be between the range of $1.23 to $1.27 a share. 

Based in San Jose, CA, PayPal operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide.

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