PayPal said net revenues rose $2.3 billion (8%) in 2023 compared with 2022, operating income rose $1.2 billion (31%), and net income rose $1.8 billion (76%). The company cited TPV growth of 13% as the main driver of the net revenue increase.

10-KAnnual reportFiled Feb 8, 2024Period of report Dec 31, 2023Summary published (UTC) Oct 24, 2026

Key points

AI summary

PayPal said net revenues rose $2.3 billion (8%) in 2023 compared with 2022, operating income rose $1.2 billion (31%), and net income rose $1.8 billion (76%). The company cited TPV growth of 13% as the main driver of the net revenue increase.
The company said transaction revenues in 2023 rose $1.7 billion (7%), citing growth in TPV and payment transactions from its Braintree products and services as the main drivers. Revenues from other value added services increased $602 million (26%), and the company cited higher interest earned on certain assets underlying customer account balances as the main driver.
The company said TPV in 2023 was $1.53 trillion, up 13% from $1.36 trillion in 2022, and the number of payment transactions was 25.0 billion, up 12%. It said active accounts as of December 31, 2023 were 426 million, down 2% from 435 million as of 2022.
PayPal said it repurchased approximately $5.0 billion of its common stock in the open market during 2023 under its stock repurchase programs authorized in July 2018 and June 2022. As of December 31, 2023, approximately $10.9 billion remained available for repurchases under the June 2022 program.

Key figures

Fiscal year ended December 31, 2023

Revenue: $29.8B
Operating income: $5.0B
Net income: $4.2B
EPS: $3.84
Operating cash flow: $4.8B

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 excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net revenues, operating income and net income rise in 2023

PayPal said net revenues rose $2.3 billion (8%) in 2023 compared with 2022, operating income rose $1.2 billion (31%), and net income rose $1.8 billion (76%). The company cited TPV growth of 13% as the main driver of the net revenue increase.

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

Transaction revenue up 7%, other value added services revenue up 26%

The company said transaction revenues in 2023 rose $1.7 billion (7%), citing growth in TPV and payment transactions from its Braintree products and services as the main drivers. Revenues from other value added services increased $602 million (26%), and the company cited higher interest earned on certain assets underlying customer account balances as the main driver.

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

Key metrics: TPV $1.53 trillion, active accounts 426 million

The company said TPV in 2023 was $1.53 trillion, up 13% from $1.36 trillion in 2022, and the number of payment transactions was 25.0 billion, up 12%. It said active accounts as of December 31, 2023 were 426 million, down 2% from 435 million as of 2022.

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

PayPal repurchases approximately $5.0 billion of stock in 2023

PayPal said it repurchased approximately $5.0 billion of its common stock in the open market during 2023 under its stock repurchase programs authorized in July 2018 and June 2022. As of December 31, 2023, approximately $10.9 billion remained available for repurchases under the June 2022 program.

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.

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