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3 Months : From Jan 2020 to Apr 2020
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.
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(END) Dow Jones Newswires
January 29, 2020 16:49 ET (21:49 GMT)
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