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PayPal | 10-Q: Q3 2024 Earnings Report

SEC ·  Oct 29, 2024 20:59

Summary by Moomoo AI

PayPal reported solid Q3 2024 financial results with net revenues increasing 6% to $7.85 billion, driven by a 9% growth in total payment volume to $423 billion. Operating income rose 19% to $1.39 billion as operating margin expanded to 18% from 16% last year, reflecting lower transaction and credit losses. The company processed 6.6 billion payment transactions, up 6% year-over-year.Transaction revenues grew 6% to $7.07 billion, primarily from increased payment volume through Braintree products and services, as well as core PayPal and Venmo offerings. Operating expenses increased moderately by 3% to $6.46 billion, with transaction expenses up 7% to $3.84 billion, while transaction and credit losses decreased 21% to $352 million due to improved risk management.The company maintained strong liquidity with $14.5 billion in cash and investments at quarter-end. During Q3, PayPal repurchased approximately 27.7 million shares for $1.79 billion. The company expects lower volume and transaction revenue growth in Q4 2024 and into 2025 from Braintree products due to ongoing merchant negotiations.
PayPal reported solid Q3 2024 financial results with net revenues increasing 6% to $7.85 billion, driven by a 9% growth in total payment volume to $423 billion. Operating income rose 19% to $1.39 billion as operating margin expanded to 18% from 16% last year, reflecting lower transaction and credit losses. The company processed 6.6 billion payment transactions, up 6% year-over-year.Transaction revenues grew 6% to $7.07 billion, primarily from increased payment volume through Braintree products and services, as well as core PayPal and Venmo offerings. Operating expenses increased moderately by 3% to $6.46 billion, with transaction expenses up 7% to $3.84 billion, while transaction and credit losses decreased 21% to $352 million due to improved risk management.The company maintained strong liquidity with $14.5 billion in cash and investments at quarter-end. During Q3, PayPal repurchased approximately 27.7 million shares for $1.79 billion. The company expects lower volume and transaction revenue growth in Q4 2024 and into 2025 from Braintree products due to ongoing merchant negotiations.
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