Home > Article > Technology peripherals > PayPal’s second-quarter revenue grew to $7.3 billion, a year-on-year increase of 7%
According to morning news on August 3, Beijing time, payment service provider PayPal today released its second quarter financial report for 2023. The report shows that PayPal’s net revenue in the second quarter was US$7.3 billion, a year-on-year increase of 7%. Net profit was US$1.029 billion, compared with a net loss of US$341 million in the same period last year. Non-GAAP net income was US$1.289 billion, compared with US$1.079 billion in the same period last year
Net revenue was US$7.3 billion, compared with US$1.079 billion in the same period last year The US$6.8 billion in the same period last year increased by 7%. If the impact of currency changes is not considered, the year-on-year increase was 8%
On a non-GAAP basis, operating profit was US$1.6 billion. A year-on-year increase of 20%, compared with US$1.1 billion calculated in accordance with U.S. GAAP, an increase of 48%
Under non-U.S. GAAP operating profit margin was 21.4%, a year-on-year increase of 228 basis points, and under U.S. GAAP, the operating profit margin was 15.5%, a year-on-year increase of 423 basis points
The net loss in the same period last year was US$341 million, while the net profit this year was US$1.029 billion
Diluted earnings per share increased from a loss of $0.29 to $0.92
On a non-GAAP basis, net income was $1.289 billion, compared with net income in the same period last year. $1.079 billion
Diluted earnings per share increased $0.23 compared to the same period last year
PayPal’s total payment volume (TPV) was 3,765 billion, an increase of 11% from the same period last year
Transaction volume reached 6.1 billion, an increase of 10% from the same period last year
Over the past year, the payment transaction volume per active account was 54.7 accounts, an increase of 12% compared to the same period last year
Compared to the same period last year, the total number of active accounts increased by 20 million to 431 million
PayPal's total cash, cash equivalents, and investments amounted to $14.4 billion as of June 30, 2023.
As of June 30, 2023, PayPal's total debt reached $10.5 billion
PayPal's operating cash flow in the second quarter was negative $200 million and free cash flow was negative $400 million
In the second quarter, PayPal returned approximately 22 million shares of common stock to shareholders for $1.5 billion. Stock
PayPal expects to achieve
In the third quarter of 2023, net revenue is expected to reach approximately $7.4 billion, an increase of approximately 8% from the same period last year
Diluted earnings per share are expected to be in the range of $0.85 to $0.87, compared with $1.15 diluted earnings per share in the third quarter of 2022
In accordance with U.S. generally accepted accounting principles (GAAP), diluted earnings per share Earnings are expected to be in the range of $1.22 to $1.24, representing year-over-year growth of 13% to 14%, compared with third quarter 2022 diluted earnings per share of $1.08
Full 2023 period:
Diluted earnings per share are expected to increase to approximately $3.49, compared to 2022 diluted earnings per share of $2.09
Non-GAAP diluted earnings per share are expected to Approximately US$4.95, a year-on-year increase of approximately 20%, and diluted earnings per share in 2022 will be US$4.13
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