- PayPal reported first-quarter revenue of $8.35 billion, above estimates of $8.05 billion.
- Total payment volumes rose 8% to $464 billion on a currency-neutral basis.
- Adjusted profit per share was $1.34, above the estimate of $1.27.
- Shares rose more than 2% in premarket trading.
- PayPal plans to save about $1.5 billion over the next two to three years and reorganize into three business units.