PayPal reported better-than-expected third-quarter earnings on Tuesday, but revenue came in slightly below expectations.
It's the first earnings report for CEO Alex Chriss since he hit his one-year anniversary at the company last month.reported better-than-expected third-quarter earnings on Tuesday, but revenue came in a bit light of expectations. Shares were trading more than 6% lower premarket.Revenue increased about 6% in the quarter from $7.42 billion in the same period a year ago. PayPal reported net income of $1.01 billion, or 99 cents per share, compared to $1.
The company's operating margin came in at 18.8%, beating the StreetAccount estimate of 17.4%. PayPal reported total active accounts of 432 million, up 1% from a year earlier, and beating the average estimate of 430.5 million. The company expects adjusted earnings per share of $1.07 to $1.11, versus the average analyst estimate of $1.10, according to LSEG.
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