Summary by Futu AI
On February 7, 2024, PayPal Holdings, Inc. released its financial results for the fourth quarter and full year of 2023. The report highlighted a 9% increase in Q4 revenue to $8.0 billion and an 8% increase in full-year revenue to $29.8 billion. GAAP EPS for Q4 was reported at $1.29, with non-GAAP EPS at $1.48. For the full year, GAAP EPS stood at $3.84, and non-GAAP EPS at $5.10. The company also reported a 15% increase in total payment volume (TPV) for Q4 and a 13% increase for the full year. Active accounts saw a 2% decrease to 426 million. PayPal's President and CEO, Alex Chriss, expressed satisfaction with the results and emphasized the company's focus on transformation and profitable growth. The report also provided financial guidance for Q1'24, expecting a 6.5% to 7% increase in net revenues and a mid-single-digit increase in GAAP and non-GAAP earnings per diluted share. The full-year guidance for 2024 anticipates GAAP earnings per diluted share to be approximately $3.60 and non-GAAP earnings per diluted share to be in line with the previous year at $5.10.
