PayPal posts 13% fall in quarterly profit

FILE PHOTO: The German headquarters of the electronic payments division PayPal is pictured at Europarc Dreilinden business park south of Berlin in Kleinmachnow, Germany, August 6, 2019. REUTERS/Fabrizio Bensch

(Reuters) – PayPal Holdings Inc (PYPL.O) reported a 13% fall in fourth-quarter profit on Wednesday, as it spent more on acquisitions and technology.

The company’s net income fell to $507 million, or 43 cents per share, in the quarter ended Dec. 31, from $584 million, or 49 cents per share, a year earlier.

Total revenue rose to $4.96 billion from $4.23 billion.

Reporting by C Nivedita in Bengaluru and Anna Irrera in New York; Editing by Maju Samuel


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