PayPalIt reported 13% revenue growth in the third quarter on Monday, and announced it is partnering with AmazonStarting in 2022, U.S. customers can pay for their purchases with Venmo at check-out.

After-hours trading saw shares rise as high as 6.3%, Due to economic concerns, the company has reduced its year-end forecast.

Below are the results compared to expectations.

• Earnings per share: Adjusted: $1.11 vs. the $1.07 anticipated in an analyst survey by Refinitiv
• Revenue $6.18 billion, vs. $6.23 trillion expected

The company’s total payment volume increased 26% to $310billion for the third quarter. 13.3m net active accounts were added, taking the total to 416. PayPal stated in a statement

PayPal’s Venmo App, which started supporting cryptocurrency services in April saw payment volumes jump by 36% to $60 Billion. Next year customers will have the ability to purchase on PayPal. Amazon.com and the Amazon mobile shopping app using their Venmo accounts.

PayPal’s recent push in cryptocurrency allowed users to purchase, trade, and pay with crypto currencies in the United States. PayPal has been positioned as an alternative to Amazon by its 32 million retail partners. CoinbaseThis is the nation’s most popular crypto exchange

PayPal reports adjusted earnings of $1.12 for its fourth quarter. Net per share Revenues between $6.85 and $6.95 trillion. Refinitiv analysts surveyed had predicted $1.27 adjusted earnings per share for $7.24 billion of revenue.

Due to the ending of stimulus payments, and the spreading of the Delta variant which has affected travel, PayPal is facing a difficult macro environment. The concern about economic growth led the company to lower its full year guidance.

Revised revenue guidance for 2018 was revised to reflect 18% growth. It now ranges from $25.3 billion to $25.54 billion. Analysts expected $25.3 billion.

PayPal, which saw its stock nearly double last year, was one of the major beneficiaries of the pandemic. It is now down by 2%, with the exception of the after-hours moves, and the Nasdaq up 24%.

Last month, PayPal investors were particularly negative after news broke that it was being in negotiations to buy social media site Pinterest. PayPal later stated that it is. not pursuing an acquisition of Pinterest “at this time.”

PayPal must also contend with eBayFuture that is less. eBay, six years after their companies were split up, is now in process of moving sellers away from PayPal into its own payments system. PayPal reported that eBay’s volume dropped by 45% during the third quarter.

WATCH: NYC Mayor-elect Eric Adams vows to take first three paychecks in bitcoin