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PayPal's First-Quarter Balance Tops Expectations

PayPal (PYPL) topped expectations for earnings, revenue and a range of metrics in a first-quarter earnings report after the market close on Wednesday.

Revenue grew 19% to $2.54 billion, versus a forecast of just more than $2.5 billion. Earnings per share increased 28% to 37 cents, 2 cents above the consensus.

"In many ways this was our best quarter since I joined PayPal," CEO Dan Schulman told investors during a Wednesday conference call. Schulman joined the company in 2014 and led it through the July 2015 spinoff from eBay (EBAY) .

PayPal shares gained 99 cents, or 2.47%, to $41 in after-hours trading.

"The results were broad-based, thorough and convincing, effectively derailing bearish concerns around competition," said Jim Cramer, TheStreet's founder and manager of the Action Alerts PLUS portfolio, which owns PayPal.

Heading into the call, there had been concerns...


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