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Dec 31, 2021
PayPal Q4 2021 Earnings Report
Solid finish to a strong year, with TPV growing and strategic initiatives advancing.
Key Takeaways
PayPal reported a solid Q4 2021 with TPV reaching $339.5 billion and revenue of $6.9 billion. The company added 9.8 million NNAs, including 3.2 million from the Paidy acquisition. GAAP EPS was $0.68, and non-GAAP EPS was $1.11.
Total Payment Volume (TPV) reached $339.5 billion, a 23% increase.
Net revenues were $6.9 billion, reflecting a 13% growth.
Added 9.8 million Net New Active Accounts (NNAs), including 3.2 million from Paidy.
GAAP EPS was $0.68, while non-GAAP EPS was $1.11.
PayPal
PayPal
Forward Guidance
PayPal provided revenue and earnings guidance for Q1 2022 and FY 2022.
Positive Outlook
- TPV expected to grow ~19%-22% at current spot rates and ~21%-23% on an FXN basis for FY22
- Revenue expected to grow ~15%-17% on a spot and FXN basis for FY22
- Revenue excluding eBay expected to grow ~19%-21% for FY22
- Revenue expected to grow ~6% on a spot and FXN basis for Q1 2022
- Revenue excluding eBay expected to grow ~14% for Q1 2022
Challenges Ahead
- GAAP earnings per diluted share expected to be in the range of ~$2.97-$3.15 compared to $3.52 in FY’21
- Non-GAAP earnings per diluted share to be in the range of ~$4.60-$4.75, compared to $4.60 in FY’21
- GAAP earnings per diluted share of ~$0.50, compared to $0.92 in the prior year period for Q1 2022
- Non-GAAP earnings per diluted share of ~$0.87, compared to $1.22 in the prior year period for Q1 2022
- Estimated non-GAAP amounts for the twelve months ending December 31, 2022 reflect adjustments of approximately $2.4 billion, including estimated stock-based compensation expense and related payroll taxes of approximately $1.9 billion