The online payment service Paypal recorded strong growth in the summer. In the third quarter, revenues rose by eleven percent year-on-year to $ 6.85 billion (EUR 7.02 billion), as the group announced after the US stock market closed in San Jose.

Net income increased 22 percent to $1.3 billion. Although the results exceeded market expectations, the stock reacted after hours with a price slide of more than ten percent at times. Paypal disappointed investors with a cautious forecast for the final quarter. The company expects a significant slowdown in sales growth.