[PYPL:Strong earnings, but can it beat industry peers?

- TPV +12% FXN
- Net revenue +10% FXN
- Non-GAAP EPS +33%
- Total active accounts +1%

Good:
- Announced $15 billion share buyback program
- Double digit volume and transaction volume growth YoY
- Strong balance sheet and cash flow generation

Bad:
- Higher taxes
- Lower margin outlook

FY23 Guidance:
- Non-GAAP diluted EPS +20%

- A strong quarter for Paypal.

- PYPL enjoyed double digit growth in sales, earnings and transaction volume.

- But digital payments is a highly competitive industry (with Visa, Mastercard, Apple etc all in the mix)