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Mar 31, 2024
PayPal Q1 2024 Earnings Report
PayPal delivered a solid set of results in Q1 2024, showing progress against its go-forward strategy and strengthened foundation.
Key Takeaways
PayPal's Q1 2024 results showed a 9% increase in revenue to $7.7 billion, and a GAAP EPS increase of 18% to $0.83. The company is focused on executing its key strategic initiatives, realizing cost savings, and reinvesting to position itself for future growth.
Net revenues increased 9% to $7.7 billion, or 10% on a currency-neutral basis.
GAAP operating income increased 17% to $1.2 billion; non-GAAP operating income increased 15% to $1.4 billion.
Total payment volume increased 14% to $403.9 billion.
Active accounts decreased 1% to 427 million, but increased sequentially by 0.4%, or 2 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
PayPal anticipates net revenues to increase approximately 6.5% and 7% FXN for Q2 2024. GAAP earnings per diluted share are expected to be $0.83, and non-GAAP earnings per diluted share are expected to increase by a low double-digit percentage compared to $0.87 in the prior year period.
Positive Outlook
- Net revenues expected to increase approximately 6.5% and 7% FXN for Q2 2024.
- Non-GAAP earnings per diluted share expected to increase by a low double-digit percentage compared to $0.87 in the prior year period.
- Estimated non-GAAP adjustments for the three months ending June 30, 2024 reflect adjustments of approximately $150 million.
- Includes estimated restructuring charges of approximately $70 million to $90 million.
- GAAP earnings per diluted share expected to be $0.83.
Challenges Ahead
- GAAP earnings per diluted share expected to be $0.83 compared to $0.92 in the prior year period.
- In the second quarter of 2023, GAAP EPS included a positive impact of approximately $0.09 from PayPal’s strategic investment portfolio.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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