PayPal's Q3 revenue up by 11% to $6.85 billion - Breaking The News

PayPal's Q3 revenue up by 11% to $6.85 billion

3 November

1 min read

EPA-EFE/ANDREW GOMBERT

PayPal Holdings Inc. revealed on Thursday that its revenue in the third quarter of the fiscal year rose by 11% on an annual level to hit $6.85 billion, somewhat in line with expectations. The company's operating income advanced by 7% year-on-year to come in at $1.1 billion. Meanwhile, its diluted earnings per share (EPS) went up by 26% compared to the same period in 2021 to reach $1.15 per share. Its total trade volume grew by 9% on an annual basis to $309.9 billion, which missed analysts' predictions.

"We delivered strong third quarter results. We will continue to invest against our key priorities to advance our leading position in digital payments and commerce," PayPal President and Chief Executive Officer (CEO) Dan Schulman commented.

Following the release of the report, PayPal's shares sank by 12.86% in after-hours trading.

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