PayPal (NASDAQ: PYPL) reported its Q1 results with EPS of $0.88 and revenue of $6.5 billion both in line with the consensus estimates. Revenue growth was 7% year-over-year (and 8% on an FX-neutral basis). Excluding eBay, the growth was 15%. Total Payment Volume (TPV) grew 13% year-over-year (and 15% on an FXN basis) to $323.0 billion.

The company expects Q2 non-GAAP EPS of $0.86, compared to the consensus of $1.12. Net revenue growth is expected to be ~9%. Excluding eBay, it is expected to be ~14%.

For the full 2022-year, the company expects EPS in the range of $3.81-$3.93, compared to the consensus estimate of $4.63. Full-year revenue growth is expected to be in the range of 11%-13%, with expected TPV growth of around 13%-15% (and around 15%-17% on an FXN basis).

Shares of PayPal rose 3% following the results but were down 57% year-to-date going into the results.

By Davit Kirakosyan