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PayPal earnings top expectations as company boosts profit forecast

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PayPal generated first-quarter net income of $795 million, or 70 cents a share, compared with $509 million, or 43 cents a share, in the year-earlier period. $PYPL benefited from strong e-commerce spending and cost-savings initiatives:

PayPal Holdings Inc. beat expectations with its quarterly results Monday, benefiting from strength in e-commerce spending and the results of cost-savings initiatives.PayPal PYPL generated first-quarter net income of $795 million, or 70 cents a share, compared with $509.

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