April 25, 2018 / 8:23 PM / 3 months ago

PayPal reports 33 pct rise in quarterly profit

April 25 (Reuters) - PayPal Holdings Inc reported a 33.1 percent rise in first-quarter profit on Wednesday as more customers used the payment processor's platform for transactions.

The company's net income rose to $511 million, or 42 cents per share, in the quarter ended March 31, from $384 million, or 32 cents per share, a year earlier.

Net revenue rose to $3.69 billion from $2.98 billion, while payments volume rose 31.5 percent to $132.36 billion. (Reporting by Aishwarya Venugopal and Diptendu Lahiri in Bengaluru; Editing by Arun Koyyur)

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