PayPal Holdings, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - PayPal Holdings, Inc. (PYPL) revealed a profit for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $795 million, or $0.70 per share. This compares with $509 million, or $0.43 per share, in last year's first quarter.

Excluding items, PayPal Holdings, Inc. reported adjusted earnings of $1.33 billion or $1.17 per share for the period.

Analysts on average had expected the company to earn $0.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.6% to $7.04 billion from $6.48 billion last year.

PayPal Holdings, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $795 Mln. vs. $509 Mln. last year. -EPS (Q1): $0.70 vs. $0.43 last year. -Analyst Estimate: $0.98 -Revenue (Q1): $7.04 Bln vs. $6.48 Bln last year.

-Guidance: Next quarter EPS guidance: $1.15-$1.17 Full year EPS guidance: $4.95