PayPal's official Q3 2024 earnings report

PayPal Reports Strong Q2 2024 Results with EPS $1.19, Revenue $7.9B, Raises Guidance, Shares Up 5% Pre-Market

Jul 30, 2024, 11:21 AM

PayPal Holdings Inc. (PYPL) reported strong second-quarter 2024 results, surpassing market expectations. The company achieved net revenues of $7.9 billion, an 8% increase year-over-year, and a total payment volume of $416.8 billion, up 11%. PayPal's GAAP EPS rose by 17% to $1.082, while non-GAAP EPS increased by 36% to $1.19. These figures exceeded analyst expectations of $7.14 billion in revenue and $0.89 in EPS. Additionally, PayPal raised its full-year 2024 guidance, forecasting free cash flow of $6 billion, up from $5 billion, and increasing share repurchases to $6 billion from $5 billion. The company also noted its best transaction margin dollar growth since 2021. CEO Dan Schulman highlighted the strength of PayPal's business and its focus on long-term profitable growth. PayPal's shares rose by 5% pre-market. The company reported adjusted operating income of $1.46 billion, and noted that international revenue growth has peaked while Braintree's TPV growth slowed to 19% YoY.