PayPal reported fourth-quarter revenue of $6.9 billion and net income of $801 million, down 49% from a year earlier

PayPal, the payment service provider, today announced its fourth-quarter and full-year financial results for fiscal 2021.According to the report, PayPal’s net revenue in the fourth quarter was us $6.918 billion, up 13% from US $6.116 billion in the same period last year.Net income was $801 million, down 49% from $1.567 billion a year earlier.Excluding certain one-time items, which don’t comply with U.S. GAAP, PayPal reported adjusted net income of $1.319 billion, up 3% from $1.281 billion a year earlier.PayPal’s fourth-quarter revenue beat Wall Street analysts’ expectations, but its adjusted earnings per share for the fourth quarter and its outlook for the first quarter and full year of fiscal 2022 missed expectations, sending its shares down nearly 14% after hours.

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