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Paypal reported earnings Thursday after the bell, meeting Wall Street expectations of 35 cents per share, and beating revenue expectations.
Paypal posted third-quarter revenues of $2.67 billion, beating estimates of $2.65 billion.
The company's stock was up more than 3 percent in choppy after-hours trade.
The payments company said it expects fourth-quarter revenue between $2.92 billion and $2.99 billion. It also expects non-GAAP EPS of between 40 cents and 42 cents.
The company provided guidance for fiscal-year 2017 in its release, expecting currency-neutral revenue growth of between 16 percent and 17 percent.
It reported a third-quarter increase of 11 percent in active customer accounts, and a 24 percent increase in the number of transactions processed. Total payment volume increased by 25 percent to $87 billion in the third quarter as well.
"We are further expanding the ubiquity and value of the PayPal brand and moving deliberately towards achieving our vision of becoming an everyday, essential financial service for people around the world," said Dan Schulman, president and CEO of PayPal.
The company slightly raised the lower end of its range for its full year 2016 revenue guidance, from $10.75 billion to $10.78 billion. It still expects a maximum of $10.85 billion in revenue for the year.
Paypal has seen a steady increase in active customer accounts its past five years, dating back to the first quarter of 2010. It attributed the growth primarily to its core service and the Venmo app. Its third-quarter report also mentioned money transfer service Xoom as a source of active customer accounts growth.
Josh Olson, an analyst at Edward Jones, said in his latest Paypal note that his firm expects that Venmo's peer-to-peer transaction volume to grow to about $84 billion in 2019 from $14 billion in 2014.
Paypal and Visa announced a partnership in July, allowing Visa debit customers to move money instantly on Paypal and Venmo accounts.