PayPal said net revenues rose $598 million (8%) and operating income rose $192 million (17%) for the 3 months ended June 30, 2024. The company cited TPV growth of 11% as the driver of the net revenue increase.

1. 01

   PayPal said net revenues rose $598 million (8%) and operating income rose $192 million (17%) for the 3 months ended June 30, 2024. The company cited TPV growth of 11% as the driver of the net revenue increase.

2. 02

   The company said transaction revenues rose $597 million (9%) in Q2 2024 and TPV rose 11% to $417 billion. It cited changes in the mix of core PayPal products and the impact of foreign exchange fees as factors that kept transaction revenue growth below TPV growth.

3. 03

   PayPal said it recorded net cash provided by operating activities of $3.4 billion, net cash used in investing activities of $3.7 billion, and net cash used in financing activities of $2.2 billion for the 6 months ended June 30, 2024. Financing activities included the repurchase of $3.0 billion of common stock.

4. 04

   The company said it issued fixed-rate notes with a total principal amount of $1.3 billion in May 2024, and that its fixed-rate debt balance was $11.8 billion as of June 30, 2024. It said the proceeds may be used for general corporate purposes.

Key figures

Quarter ended June 30, 2024

Revenue

$7.9B

Operating income

$1.3B

Net income

$1.1B

EPS

$1.08

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.

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.