Washington, May 9, (dpa/GNA) – Online payment firm PayPal’s profit increased for the first quarter and beat the Street estimates, the company reported on Monday.
The company’s earnings totalled $795 million, or $0.70 per share. This compares with $509 million, or $0.43 per share, in last year’s first quarter.
Excluding items, PayPal reported adjusted earnings of $1.33 billion or $1.17 per share for the period. Analysts on average had expected the company to earn $0.98 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 8.6% to $7.04 billion from $6.48 billion last year.
GNA