Paypal: Q3 Earnings Snapshot

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Paypal Holdings Inc. (PYPL) on Tuesday reported third-quarter profit of $1.07 billion.

On a per-share basis, the San Jose, California-based company said it had net income of $1.25. Earnings, adjusted for non-recurring costs, came to $1.45 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.31 per share.

The technology platform and digital payments company posted revenue of $8.58 billion in the period, which did not meet Street forecasts. Nine analysts surveyed by Zacks expected $8.7 billion.

For the current quarter ending in December, Paypal expects its per-share earnings to be $1.43.

The company expects full-year earnings to be $5.60 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