PayPal's quarterly revenue rises 17 percent

Reuters News
Posted: Jan 27, 2016 4:20 PM

(Reuters) - Payment processor PayPal Holdings Inc's quarterly revenue rose about 17 percent as it added more customers and processed more payments than in the same period last year, when it was a part of eBay Inc.

PayPal, which was spun off from eBay and listed on the Nasdaq in July, said its revenue rose to $2.56 billion in the fourth quarter ended Dec. 31 from $2.19 billion.

The company's net income rose to $367 million, or 30 cents per share, from $286 million, or 23 cents per share.

(Reporting By Arathy S Nair in Bengaluru; Editing by Savio D'Souza)