PayPal Reports Third Quarter 2023 Results

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11/01/2023 - 04:17 PM EDT

Q3'23: Solid third quarter performance delivering on both revenue and EPS

Total payment volume (TPV) of $387.7 billion, growing 15% and 13% on an FX-neutral (FXN) basis
Net revenues of $7.4 billion, growing 8% and 9% FXN
GAAP operating income of $1.2 billion, growing 4%; non-GAAP operating income of $1.6 billion, growing 8%
GAAP EPS of $0.93 compared to $1.15 in Q3'22; non-GAAP EPS of $1.30 compared to $1.08 in Q3'22, growing 20%
Operating cash flow of $1.3 billion¹ with free cash flow of $1.1 billion¹

FY'23: Ongoing operating discipline driving earnings growth

Q4'23 net revenues expected to grow ~6%-7% on a spot basis and ~7%-8% FXN
Q4'23 GAAP EPS expected to be ~$1.20; non-GAAP EPS expected to grow ~10% to ~$1.36
FY'23 GAAP EPS now expected to be ~$3.75 compared to $2.09 in FY'22; non-GAAP EPS now expected to grow ~21% to ~$4.98
FY'23 share repurchases expected to reach ~$5 billion

SAN JOSE, Calif., Nov. 1, 2023 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) today announced its third quarter 2023 results for the period ended September 30, 2023. 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 2:00 p.m. Pacific time (5:00 p.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 remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering hundreds of millions of consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com.

Investor Relations Contact
investorrelations@paypal.com

Media Relations Contact
mediarelations@paypal.com

View original content:https://www.prnewswire.com/news-releases/paypal-reports-third-quarter-2023-results-301974835.html