Payment solutions firm PayPal Holdings Inc. (NASDAQ: PYPL) reported higher earnings for the fourth quarter of 2021. The company’s revenues increased 13% during the three-month period.
Net revenues rose 13% year-over-year to $6.9 billion in the fourth quarter amid strong increase in total payment volumes. Analysts had forecast a slightly slower top-line growth.
Adjusted profit advanced to $1.11 per share from last year’s $1.08 per share but missed expectations. Net income, including special items, was $801 million or $0.68 per share, compared to $1.57 billion or $1.32 per share in the fourth quarter of 2020.