PayPal on Tuesday beat Wall Street estimates for first-quarter earnings and maintained its annual profit forecast, even as several businesses have pulled their outlook amid economic uncertainty triggered by erratic U.

For the second quarter, PayPal issued better-than-expected guidance, forecasting adjusted earnings per share of $1.29 to $1.31, above the average analyst estimate of $1.21. Transaction margin dollars will increase 4% to 5% to between $3.75 billion and $3.8 billion, the company said.