10:30 ET -- PayPal Holdings Inc. is one of the most talked about companies in the U.S. across all news items in the last 12 hours, according to Factiva data. PayPal posted better-than-expected profit and sales in the latest quarter, indicating that its customer base is still spending despite the inflationary environment. The company had third-quarter earnings of $1.33 billion, or $1.15 a share, up from $1.09 billion, or 92 cents a share, a year earlier. Adjusted earnings were $1.08 a share, above analysts' estimates of 96 cents. Revenue rose to $6.85 billion from $6.18 billion. Analysts polled by FactSet expected $6.81 billion. PayPal said total payment volume increased 9%, to $337 billion, in the quarter. Dow Jones & Co. owns Factiva. (chris.wack@wsj.com)

(END) Dow Jones Newswires

November 04, 2022 10:45 ET (14:45 GMT)

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