Paypal: Q1 Earnings Snapshot

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SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Paypal Holdings Inc. (PYPL) on Monday reported first-quarter profit of $795 million.

The San Jose, California-based company said it had net income of 70 cents per share. Earnings, adjusted for one-time gains and costs, were $1.17 per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.

The technology platform and digital payments company posted revenue of $7.04 billion in the period, also beating Street forecasts. Thirteen analysts surveyed by Zacks expected $6.99 billion.

For the current quarter ending in June, Paypal expects its per-share earnings to range from $1.15 to $1.17.

The company expects full-year earnings to be $4.95 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PYPL at https://www.zacks.com/ap/PYPL