SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Paypal Holdings Inc. (PYPL) on Tuesday reported fourth-quarter net income of $1.44 billion.
The San Jose, California-based company said it had profit of $1.53 per share. Earnings, adjusted for non-recurring gains, came to $1.23 per share.
The results did not meet Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.
The technology platform and digital payments company posted revenue of $8.68 billion in the period, which also missed Street forecasts. Twelve analysts surveyed by Zacks expected $8.77 billion.
For the year, the company reported profit of $5.23 billion, or $5.41 per share. Revenue was reported as $33.17 billion.
For the current quarter ending in March, Paypal expects its per-share earnings to be $1.33.
The company expects full-year earnings to be $5.31 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