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PayPal third-quarter profit rises 7% on online payments shift -Breaking

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© Reuters. FILE PHOTO – A laptop with the PayPal logo on it is shown in this illustration, taken July 14, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) – PayPal Holdings Inc (NASDAQ:) Monday’s nearly 7% increase in profit for the third quarter was due to higher use of digital payment methods and increased transactions through Venmo, its peer-to–peer payment platform.

From $1.02 Billion, which was 86cs/share a year ago, the company’s net profit rose to $1.09 Billion, or 92 Cents per Share, during the three-months ended September 30.

According to Refinitiv’s IBES data, analysts had on average expected profits of $1.07 per shares.

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