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4/24, 10:19 PM (Source: TeleTrader)
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PayPal earns $0.56 per share or 33.3% more YoY

PayPal Holdings Inc. dropped more than 2.8% after the bell upon the release of results for the three months through March. Revenue surged 12% on an annual scale, reaching $4.13 billion, translating to a jump of 30.5% to $667 million. In reported terms, the payments system operator earned $0.56 per diluted share, while on an adjusted basis the rise was 36.8% to $0.78.

"We are confident in the 2019 targets we outlined last quarter as we continue to leverage our wide range of unique assets in our global digital payments platform," president and chief executive Dan Schulman said. The company revealed the investment in MercadoLibre contributed $0.08 to net income per share. The total number of active accounts grew by 16.9% to 277 million year over year or 3.7% from the year-end.

PayPal said revenue growth would have been seven percentage points higher without the sale of the domestic portfolio of credit receivables to Synchrony in July. Operating margin dropped by two points from the same quarter of 2018, to 12.5%. The number of payment transactions landed at 2.84 billion – 1% below the level from the fourth quarter but 28.2% higher than one year before.

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