April 26 (Reuters) - Payment processor PayPal Holdings Inc reported a 5.2 percent 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, which spun off from e-commerce firm eBay Inc 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.
Reporting by Sruthi Shankar in Bengaluru; Editing by Martina D'Couto