SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Paypal Holdings Inc. (PYPL) on Thursday reported fourth-quarter net income of $921 million.
On a per-share basis, the San Jose, California-based company said it had net income of 81 cents. Earnings, adjusted for one-time gains and costs, came to $1.24 per share.
The results surpassed Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.
The technology platform and digital payments company posted revenue of $7.38 billion in the period, which missed Street forecasts. Thirteen analysts surveyed by Zacks expected $7.4 billion.
For the year, the company reported profit of $2.42 billion, or $2.09 per share. Revenue was reported as $27.52 billion.
For the current quarter ending in March, Paypal expects its per-share earnings to range from $1.08 to $1.10.
The company expects full-year earnings to be $4.87 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
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