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10/18/2018, 10:16 PM (Source: TeleTrader)
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PayPal posts 17% YoY jump in EPS to $0.36 in Q3

PayPal Holdings, Inc. said on Thursday its earnings per share rose 17% year over year to $0.36 in the third quarter of 2018. Meanwhile, revenue grew 14% to $3.68 billion compared to the same period a year earlier, the company's financial update revealed, topping expectations. The company managed to add 9.1 million active accounts in the quarter ending September 30 versus 8.2 million secured in the third quarter of 2017, resulting in 254 million active accounts total with payment transactions up 27% to 2.5 billion.

"PayPal had another excellent quarter. New partnerships with American Express and Walmart will increase the value that we can offer to our customers. Our strong balance sheet and cash flow enable us to aggressively invest in innovation and growth, creating sustainable and long-term value for our shareholders," Chief Executive Officer Dan Schulman said in the press release.

Shares of the digital payments company jumped 2.83% in after-hours trading following the release its quarterly earnings.

Breaking the News / JC