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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.
PayPal
PayPal
PayPal Revenue by Segment
PayPal Revenue by Geographic Location
Revenue by Segment
Transaction Revenue
CapyFin.comOther VAS Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com 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.
- Estimated non-GAAP amounts 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income