PayPal Holdings Inc. shares fell in the extended session Wednesday after the payments company reported fourth-quarter results that beat expectations on earnings and outlook. PayPal stock fell than 3.31% after hours to $82.50. The company reported fourth-quarter net income of $620 million, or 50 cents a share, compared with $390 million, or 32 cents a share, in the year-ago period. Adjusted earnings were 55 cents a share. Revenue rose to $3.74 billion from $2.98 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 48 cents a share on revenue of $3.63 billion. PayPal also said that it had inked a deal with eBay Inc. that will continue to make PayPal a payment method on eBay through July 2023. EBay as a percentage of total payment volume on PayPal shrank to 13% from 16% a year ago, PayPal said. For the first quarter, analysts model earnings of 40 cents a share on revenue of $3.55 billion. PayPal said it expects first-quarter earnings of 41 cents to 43 cents a share on sales of $3.58 billion to $3.63 billion. PayPal stock has gained 115% in the past year, with the S&P 500 index rising 24%.
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