PayPal shares fell by up to 7% after the company announced lower-than-expected fourth-quarter forecasts.

Despite better-than-anticipated third-quarter earnings, revenues from July to September did not meet projections.

The company’s earnings per share reached US$1.20, surpassing the expected US$1.07.

However, the revenue was US$7.85 billion, falling short of the US$7.89 billion forecast by analysts, according to LSEG.

In the third quarter, revenue grew by 6% to US$7.42 billion year-over-year.

Net income was US$1.01 billion, or 99 cents per share, compared to US$1.02 billion, or 93 cents per share, in the previous year.