October 18, 2018 / 9:00 PM / a month ago

PayPal quarterly profit beats estimates, shares rise

NEW YORK, Oct 18 (Reuters) - PayPal Holdings Inc on Thursday reported a third-quarter profit that beat analysts’ estimates as the company signed up more new customers and volume of payments processed grew.

Net income rose to $436 million, or 36 cents per share, in the third quarter, from $380 million, or 31 cents per share, a year earlier. Revenue rose to $3.68 billion from $3.24 billion.

Excluding onetime items, the company earned 58 cents per share, beating the average analyst estimate of 54 cents, according to Refinitiv. (Reporting by Anna Irrera; editing by Jonathan Oatis)

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