By Reuters
April 26, 2017

Payment processor PayPal Holdings reported a 5.2% rise in quarterly profit on Wednesday, helped by an increase in payment processing volumes and customer additions.

The company’s board authorized a $5 billion share buyback program.

PayPal (pypl), which spun off from e-commerce firm eBay (ebay) in 2015, said its net income rose to $384 million, or 32 cents per share, in the first quarter ended March 31, from $365 million, or 30 cents per share, a year earlier.

Revenue rose to $2.98 billion from $2.54 billion.

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