PYPL PayPal Holdings Inc

By Allison Prang

PayPal Holdings Inc. reported higher revenue and profit in the first quarter.

Earnings were 92 cents a share, up from seven cents a share in the comparable quarter a year ago. PayPal had estimated earnings per share for the quarter at 70 cents.

Adjusted earnings were $1.22 a share. Analysts were expecting adjusted earnings of $1.01 a share.

The company said revenue rose 31% to $6.03 billion. According to FactSet, Wall Street expected the company's top line to be $5.91 billion.

At the end of the quarter, the company had 392 million active accounts, up 21% from a year ago, PayPal said. It had 42.2 transactions per active account.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

May 05, 2021 16:32 ET (20:32 GMT)

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