Paypal: 1Q Earnings Snapshot

The San Jose, California-based company said it had profit of 42 cents per share. Earnings, adjusted for one-time gains and costs, came to 57 cents per share.

The results topped Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The technology platform and digital payments company posted revenue of $3.69 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $3.58 billion.

For the current quarter ending in July, Paypal expects its per-share earnings to range from 54 cents to 56 cents.

The company expects full-year earnings in the range of $2.31 to $2.34 per share.

Paypal shares have climbed 0.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $74, a climb of 66 percent in the last 12 months.

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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