PayPal Shares Spike on Earnings Beat
PayPal topped analysts top- and bottom-line expectations.
PayPal (PYPL) - Get Report reported revenue of $2.67 billion, surpassing Wall Street's forecast of $2.65 billion. Earnings of $0.35 a share were in-line with analysts' expectations. Active customer accounts increased 11% year-over-year to 192 million. And, 1.5 billion tranactions were processed, which is up 24% from a year prior. For the fourth quarter, PayPal anticipates revenue to be in a range between $2.92 billion to $2.99 billion with earnings between $0.40 and $0.42 a share.
