SAN JOSE, Calif. (AP) _ Paypal Holdings Inc. (PYPL) on Wednesday reported first-quarter earnings of $1.1 billion.

The San Jose, California-based company said it had net income of 92 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.22 per share.

The results topped Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The technology platform and digital payments company posted revenue of $6.03 billion in the period, also beating Street forecasts. Thirteen analysts surveyed by Zacks expected $5.9 billion.

Paypal shares have risen almost 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $247.40, a rise of 97% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PYPL at https://www.zacks.com/ap/PYPL

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