PayPal Posts 11% Increase in Net Revenue for Q3 2022

PayPal Holdings, Inc. (PayPal) has announced its third quarter 2022 (Q3'22) results for the period ended September 30, 2022, seeing a 11% increase in its Net revenues.

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Financial Performances

• Net revenues of $6.85 billion, 11% growth on a spot basis and 12% FXN. Revenue excluding eBay grew 13% on a spot basis, on top of 25% growth in Q3'21.

• GAAP operating margin of 16.3%, declined 54 basis points; non-GAAP operating margin of 22.4%, declined 140 basis points.

• GAAP operating income of $1.1B, growing 7%; non-GAAP operating income of $1.5B, growing 4%.

• GAAP EPS of $1.15, compared to $0.92 in Q3'21; non-GAAP EPS of $1.08, compared to $1.11 in Q3'21. 

Operating Performances

• $337.0 billion in TPV, up 9% on a spot basis and 14% FXN. TPV excluding eBay grew 10% on a spot basis and 15% FXN, representing 98% of TPV. 

• 2.9 million NNAs added, with total active accounts of 432 million, up 4%.

• 5.6 billion payment transactions, up 15%.

• 50.1 payment transactions per active account on a trailing twelve month basis, growing 13%.

Balance Sheet and Liquidity

• Cash, cash equivalents, and investments totaled $16.1 billion as of September 30, 2022.

• Debt totaled $10.7 billion as of September 30, 2022.

• In Q3'22, generated cash flow from operations of $1.9 billion, increasing 29%, and free cash flow of $1.8 billion, increasing 37%.

• In Q3'22, repurchased approximately 10 million shares of common stock, returning $939 million to stockholders. Year-to-date through the end of Q3'22, returned $3.2 billion to stockholders through share repurchases.