PayPal pops after-market as revenue, EPS beat expectations

PayPal surged nearly 13% after the close after reporting transaction revenue of $6.27 billion, up 8% from the year earlier.

Transaction revenue, which accounts for 92% of all revenue, includes fees for the purchase and sale of cryptocurrencies. The company reported total revenue of $6.8 billion, up 9% on the year, and besting the estimate by $20 million, and Non-GAAP earnings per share of $0.93, beating the estimate by $0.06, according to Seeking Alpha.

Revenue is expected to reach more than $27 billion for the year, compared with about $25 billion in 2021.

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