REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 1 (Reuters) - PayPal Holdings (PYPL.O) raised its forecast for full-year adjusted profit above Wall Street estimates on Wednesday, as the payments giant banks on resilient consumer spending trends during the key holiday shopping season.
The company said it expects adjusted profit for the full-year to be about $4.98 per share from $4.95 earlier.
PayPal cut its annual forecast of adjusted operating margin expansion to 75 basis points from 100 basis points expected earlier.
Total payments volume increased 13% on FX-neutral basis to $387.7 billion in the third quarter, beating Street expectations of $377.9 billion.
The firm earned $1.30 per share on an adjusted basis in the third-quarter, beating Wall Street expectations of $1.23 per share.
Persons:
Dado Ruvic, Jamie Miller, Manya Saini, Krishna Chandra
Organizations:
PayPal, REUTERS, PayPal Holdings, Wall, Adobe Analytics, Apple, FX, U.S . Commerce Department, Thomson
Locations:
U.S, Bengaluru