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Markets News

PayPal quarterly profit more than doubles

Nov 2 (Reuters) - E-commerce payments processor PayPal Holdings Inc reported a 121% jump in third-quarter profit on Monday, driven by a surge in online spending from consumers staying at home due to the COVID-19 pandemic.

Net income jumped to $1.02 billion, or 86 cents per share, for the quarter ended Sept. 30, from $462 million, or 39 cents per share, a year earlier. (Reporting by Niket Nishant and Eva Mathews in Bengaluru; Editing by Vinay Dwivedi)

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