Summary by Moomoo AI
On July 30, 2024, PayPal Holdings, Inc. released its financial results for the second quarter ended June 30, 2024. The report highlighted an 8% increase in net revenues to $7.9 billion and an 11% increase in total payment volume to $416.8 billion. GAAP operating income rose by 17% to $1.3 billion, while non-GAAP operating income saw a 24% increase to $1.5 billion. GAAP EPS grew by 17% to $1.08, and non-GAAP EPS by 36% to $1.19. The number of active accounts saw a slight decrease of 0.4% to 429 million, although there was a sequential increase of 0.4%. PayPal also returned $1.5 billion to stockholders through share repurchases. Based on these strong results, PayPal raised its full-year guidance and increased share repurchases, signaling confidence in its strategic transformation and long-term profitable growth.
