PayPal Posts 9% Increase in Net Revenues for Q2 2022

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced its second quarter 2022 (Q2 2022) results for the period ended June 30, 2022, witnessing a 9% increase in its Net revenues.

Financial Highlights

Net revenues increased 9% with ex-eBay growth of 14%

• Net revenues of $6.8 billion, growing 9% and 10% on an FX-neutral basis (FXN); excluding eBay, revenue grew 14% on a spot basis

• GAAP operating margin of 11.2%, declined 684 basis points; non-GAAP operating margin of 19.1%, declined 738 basis points

• GAAP EPS of ($0.29), compared to $1.00 in Q2'21; non-GAAP EPS of $0.93, compared to $1.15 in Q2'21

Operating Highlights

Ongoing volume and account growth

• $339.8 billion in TPV, up 9% on a spot basis, and 13% FXN

◦ TPV excluding eBay grew 11% on a spot basis and 15% FXN, representing 98% of TPV

• 0.4 million NNAs added, with total active accounts of 429 million, up 6%

• 5.5 billion payment transactions, up 16%

• 48.7 payment transactions per active account on a trailing twelve month basis, growing 12%

​Dan Schulman, President and CEO of Paypal, commented: "Our second quarter results were solid with currencyneutral revenue and non-GAAP earnings growth exceeding expectations. We continue to gain share as we execute across our key strategic initiatives, even as we drive operational efficiency across our business.”