PayPal 3Q Revenue Beats Forecasts
November 01 2023 - 5:15PM
Dow Jones News
By Denny Jacob
PayPal posted better-than-expected revenue in the third
quarter.
The San Jose, Calif.-based payments company posted net income of
$1.02 billion, or 93 cents a share, for the three months ended
Sept. 30, down from $1.33 billion, or $1.15 a share, a year
earlier. Adjusted earnings were $1.30 a share, above analysts'
estimates of $1.23 a share.
Revenue rose to $7.42 billion from $6.85 billion. Analysts
polled by FactSet expected $7.39 billion.
PayPal logged total payment volume of $387.7 billion,
representing growth of 15% and 13% on a foreign-currency neutral
basis.
In a separate announcement, PayPal said it named Jamie Miller as
chief financial officer effective Nov. 6.
The executive change follows Alex Chriss being tapped as its
chief executive in August. Chriss took the reins on Sept. 27.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
November 01, 2023 17:00 ET (21:00 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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