Loading...
•
Jun 30, 2021
PayPal Q2 2021 Earnings Report
PayPal drove strong results, reflecting some of the best performance in its history.
Key Takeaways
PayPal Holdings, Inc. reported strong second-quarter results with TPV reaching $311 billion and active accounts surpassing 400 million. Net revenue grew 19% to $6.24 billion, and non-GAAP EPS increased by 8% to $1.15.
TPV reached $311 billion, growing 40% (36% FXN).
Net revenue was $6.24 billion, growing 19% (17% FXN).
GAAP EPS was $1.00, and non-GAAP EPS was $1.15.
Added 11.4 million Net New Active Accounts (NNAs), ending the quarter with 403 million active accounts.
PayPal
PayPal
PayPal Revenue by Geographic Location
Revenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
PayPal provided guidance for Q3 2021 and updated its full-year 2021 outlook.
Positive Outlook
- PayPal expects to add NNAs in the range of 52–55 million.
- PayPal expects TPV growth to be in the range of ~33%-35% on a spot and FXN basis.
- PayPal expects net revenue to grow ~20% at current spot rates and ~18.5% on an FXN basis, to ~$25.75 billion.
- PayPal expects GAAP EPS to be ~$3.49.
- PayPal expects non-GAAP EPS to grow ~21% to ~$4.70.
Challenges Ahead
- PayPal expects GAAP earnings per diluted share to be ~$0.68, compared to $0.86 in the prior year period, and for non- GAAP earnings per diluted share to be approximately ~$1.07, in-line with the prior year period
- GAAP EPS guidance does not include any expectation of net realized and unrealized gains and losses on PayPal’s strategic investment portfolio
- In the third quarter of 2020, GAAP EPS included a net gain of $0.13 on PayPal’s strategic investment portfolio
- Estimated non-GAAP amounts for the three months ending September 30, 2021 reflect adjustments of approximately $510 million, including estimated stock-based compensation expense and related payroll taxes of approximately $400 million
- GAAP EPS guidance includes ~$0.11 of net realized and unrealized gains on PayPal’s strategic investment portfolio
Revenue & Expenses
Visualization of income flow from segment revenue to net income