The company said net revenue for the 3 months ended June 30, 2024 rose 11% year over year (13% on a currency-neutral basis), and net revenue for the 6 months rose 11% (12% on a currency-neutral basis). It attributed the increases to growth in both its payment network and value-added services and solutions.

10-QQuarterly reportFiled Jul 31, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said net revenue for the 3 months ended June 30, 2024 rose 11% year over year (13% on a currency-neutral basis), and net revenue for the 6 months rose 11% (12% on a currency-neutral basis). It attributed the increases to growth in both its payment network and value-added services and solutions.
The company said operating expenses for the 3 months rose 12% and adjusted operating expenses rose 9%. For the 6 months, operating expenses rose 8% and adjusted operating expenses rose 9%. Provision for litigation was $98 million for the 3 months and $224 million for the 6 months.
The company said its effective income tax rate was 17.3% for the 3 months, compared with 23.2% in the prior-year period, and 16.4% for the 6 months, compared with 20.6% a year earlier. It cited a one-time $212 million tax charge in Q2 2023 to establish a valuation allowance, and a change in the geographic mix of its earnings, as explanations.
The company said it repurchased 10.2 million shares of common stock for $4.6 billion and paid dividends of $1.2 billion in 2024 over the 6 months. It completed a debt offering of $1 billion in May, and total debt as of June 30 was $15.6 billion.

Key figures

Quarter ended June 30, 2024

Revenue: $7.0B
Operating income: $4.0B
Net income: $3.3B
EPS: $3.50

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net Revenue Rises in Quarter and Six Months

The company said net revenue for the 3 months ended June 30, 2024 rose 11% year over year (13% on a currency-neutral basis), and net revenue for the 6 months rose 11% (12% on a currency-neutral basis). It attributed the increases to growth in both its payment network and value-added services and solutions.

Source · Based on the MD&A text of the filing

Changes in Quarterly and Six-Month Operating Expenses

The company said operating expenses for the 3 months rose 12% and adjusted operating expenses rose 9%. For the 6 months, operating expenses rose 8% and adjusted operating expenses rose 9%. Provision for litigation was $98 million for the 3 months and $224 million for the 6 months.

Source · Based on the MD&A text of the filing

Effective Tax Rate Declines and Company Explanation

The company said its effective income tax rate was 17.3% for the 3 months, compared with 23.2% in the prior-year period, and 16.4% for the 6 months, compared with 20.6% a year earlier. It cited a one-time $212 million tax charge in Q2 2023 to establish a valuation allowance, and a change in the geographic mix of its earnings, as explanations.

Source · Based on the MD&A text of the filing

6-Month Shareholder Returns and Debt Activity

The company said it repurchased 10.2 million shares of common stock for $4.6 billion and paid dividends of $1.2 billion in 2024 over the 6 months. It completed a debt offering of $1 billion in May, and total debt as of June 30 was $15.6 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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