SAN JOSE, Calif. (AP) _ Paypal Holdings Inc. (PYPL) on Wednesday reported second-quarter earnings of $1.18 billion.

On a per-share basis, the San Jose, California-based company said it had net income of $1. Earnings, adjusted for one-time gains and costs, were $1.15 per share.

The results topped Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The technology platform and digital payments company posted revenue of $6.24 billion in the period, which missed Street forecasts. Eleven analysts surveyed by Zacks expected $6.32 billion.

Paypal shares have climbed 29% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $301.98, a rise of 71% 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

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News