Payment solutions firm PayPal Holdings Inc. (NASDAQ: PYPL) announced financial results for the third quarter of 2022, reporting stronger-than-expected earnings and revenues.
Third-quarter revenues rose 11% year-over-year to $6.85 billion amid strong growth in payment volumes. The top line also exceeded consensus estimates.
The company reported adjusted earnings of $1.08 per share for the three-month period, compared to $1.11 per share in the corresponding period of last year. Analysts had predicted a smaller number. On a reported basis, it was a net profit of $1.33 billion or $1.15 per share, compared to $1.09 billion or $0.92 per share last year.
Check this space to read management/analysts’ comments on PayPal’s Q3 2022 results
“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. We’re very pleased to be working with Apple to enhance our offerings for our PayPal and Venmo merchants and consumers,” said PayPal’s CEO Dan Schulman.
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