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SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Paypal Holdings Inc. (PYPL) on Tuesday reported first-quarter net income of $1.29 billion.
On a per-share basis, the San Jose, California-based company said it had profit of $1.29. Earnings, adjusted for one-time gains and costs, came to $1.33 per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The technology platform and digital payments company posted revenue of $7.79 billion in the period, which fell short of Street forecasts. Ten analysts surveyed by Zacks expected $7.81 billion.
For the current quarter ending in June, Paypal expects its per-share earnings to range from $1.29 to $1.31.
The company expects full-year earnings in the range of $4.95 to $5.10 per share.
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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