PayPal Reports First Quarter 2024 Results

Rhea-AI Summary

PayPal Holdings, Inc. (NASDAQ: PYPL) released its first quarter 2024 results, reporting a 9% increase in revenue to $7.7 billion, with a 10% increase on a currency-neutral basis. The company saw an 18% increase in GAAP EPS to $0.83 and a 27% increase in non-GAAP EPS to $1.08. PayPal also reported growth in total payment volume, payment transactions, and active accounts. The company returned $1.5 billion to stockholders through share repurchases.

Positive

• 9% increase in revenue to $7.7 billion, with a 10% increase on a currency-neutral basis

• 18% increase in GAAP EPS to $0.83

• 27% increase in non-GAAP EPS to $1.08

• 14% increase in total payment volume to $403.9 billion

• 11% increase in payment transactions to 6.5 billion

• 1% increase in active accounts sequentially

• Cash flow from operations of $1.9 billion and free cash flow of $1.8 billion

• Returned $1.5 billion to stockholders through share repurchases

Negative

• Active accounts decreased 1% to 427 million

• Adjusted free cash flow of $1.9 billion excludes certain impacts

• Debt totaled $11.0 billion as of March 31, 2024

SAN JOSE, Calif., April 30, 2024 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) today announced its first quarter 2024 results for the period ended March 31, 2024. The earnings release and related materials discussing these results can be found on PayPal's investor relations website at https://investor.pypl.com/financials/quarterly-results/default.aspx.

PayPal Holdings, Inc. will host a conference call to discuss these results at 5:30 a.m. Pacific time (8:30 a.m. Eastern time) today. A live webcast of the conference call will be available at https://investor.pypl.com. In addition, an archive of the webcast will be accessible for 90 days through the same link.

About PayPal

PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy.

Investor Relations Contact
investorrelations@paypal.com 

Media Relations Contact
mediarelations@paypal.com

View original content:https://www.prnewswire.com/news-releases/paypal-reports-first-quarter-2024-results-302131537.html

SOURCE PayPal Holdings, Inc.

FAQ

What was PayPal's Q1'24 revenue?

PayPal's Q1'24 revenue increased 9% to $7.7 billion.

What was the increase in GAAP EPS for Q1'24?

The GAAP EPS for Q1'24 increased by 18% to $0.83.

How many payment transactions were recorded in Q1'24?

Q1'24 saw an 11% increase in payment transactions to 6.5 billion.

What was the total payment volume in Q1'24?

The total payment volume in Q1'24 increased by 14% to $403.9 billion.

What was the balance of cash and investments as of March 31, 2024?

As of March 31, 2024, cash, cash equivalents, and investments totaled $17.7 billion.