PayPal Shares Fall Slightly After Q3 Earnings, Revenue Meet Expectations

By Claudia AssisMarketsMarketWatch Pulse

PayPal Holdings Inc. shares fell 0.2% late Thursday after the payments company reported third-quarter earnings and revenue in line with Wall Street expectations. PayPal said it earned $323 million, or 27 cents a share, in the quarter, compared with $301 million, or 25 cents a share, in the year-ago period. Adjusted for one-time items, the San Jose, Calif., company earned $425 million, or 35 cents a share. Revenue rose 18% to $2.67 billion, from $2.26 billion a year ago, the company said. Analysts polled by FactSet had expected PayPal to report adjusted earnings of 35 cents a share on sales of $2.65 billion. The company said it expects to report adjusted earnings between 40 cents a share and 42 cents a share in the fourth quarter, and adjusted earnings of $1.48 a share and $1.50 a share for full-year 2016, with the top ranges in both time periods in line with analyst expectations. Shares of PayPal ended the regular trading session down 0.4%.

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