By Anna Irrera
NEW YORK (Reuters) - PayPal Holdings Inc
Net income rose to $436 million, or 36 cents per share, in the third quarter, from $380 million, or 31 cents per share, a year earlier. Revenue rose to $3.68 billion from $3.24 billion.
Excluding one-time items, the company earned 58 cents per share, beating the average analyst estimate of 54 cents, according to Refinitiv.
For the fourth quarter, PayPal expects revenue between $4.20 billion and $4.28 billion, in line with analysts' estimates of $4.21 billion estimate.
Shares of the company, which separated from ecommerce site eBay Inc
In September it completed the purchase of Swedish payments firm iZettle, its largest ever acquisition.
"As pleased as I am with our financials, the highlight of the quarter was our growth in net new actives and engagement," PayPal Chief Executive Dan Schulman said on a call with analysts.
The company added a record 9.1 million new active accounts in the third quarter, compared to an increase of 8.2 million a year earlier.
PayPal processed $143 billion in payments over the period, up 24 percent from a year earlier.
Venmo, its peer-to-peer payment app popular with younger consumers, processed $17 billion of payments in the third quarter, growing 78 percent.
"And while it is still early, our monetization efforts appear to be reaching a tipping point," Schulman said.
He added that 24 percent of Venmo users have now participated in a "monetizable action," up from 17 percent last quarter.
(Reporting by Anna Irrera; editing by Jonathan Oatis; and Phil Berlowitz)