Here's our initial take on 's (NASDAQ: PYPL) latest financial report.

PayPal grew revenue by 6% in the quarter and earnings per share by 18%, topping Wall Street expectations for both, as the campaign by CEO Alex Chriss to boost profitability at the payments giant appears to be gaining traction.

Transaction margin dollars, a way to measure profitability, increased by 7% to $3.8 billion, and total payment volume climbed by 6% to $443.5 billion. PayPal is still finding ways to add new users to its ecosystem, boosting its number of active accounts by 2% year over year and 0.4% sequentially to 438 million.

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Source Fool.com