PayPal's Profit Falls, Revenue Rises
January 29 2020 - 5:04PM
Dow Jones News
By Allison Prang
PayPal Holdings Inc. (PYPL) reported higher revenue, but lower
profit as the company recorded a tax hit from buying iZettle.
PayPal's profit fell to $507 million, down 13%. The company
reported earnings of 43 cents a share, down from 49 cents a share
the comparable quarter a year ago. The company said its earnings
were negatively affected by about 19 cents a share from taxes due
to acquiring iZettle.
Adjusted earnings were 86 cents a share, up from 69 cents a
share. Analysts' consensus was 83 cents a share according to
FactSet.
Net revenue of $4.96 billion was 17% higher than a year ago.
Analysts were expecting $4.94 billion.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
January 29, 2020 16:49 ET (21:49 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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