An earlier version of this article misstated the FactSet consensus estimate for total payment volume. The estimate was $163 billion.
The company reported net income of $667 million, or 56 cents a share, up from $511 million, or 42 cents a share, in the year-earlier period. Adjusted earnings per share rose to 78 cents from 57 cents a year earlier, and came in ahead of the FactSet consensus, which called for 68 cents a share in adjusted EPS. PayPal PYPL, +0.30% saw an EPS benefit of 8 cents during the quarter, related to its strategic investment in MercadoLibre Inc. MELI, -2.80% .
Total payment volume climbed to $161 billion, as PayPal added 9.3 million new active accounts, bringing its total up to 277 million. TPV came up a bit shy of consensus expectations for $163 billion. The company saw 38 transactions per active account over a trailing 12-month period, up 9% from a year ago.
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