PayPal (PYPL) Tops Q1 EPS, Revenue
PayPal (NASDAQ: PYPL) reported Q1 non-GAAP EPS of $1.40, $0.18 cents better than the analyst estimate of $1.22. Revenue for the quarter came in at $7.7 billion versus the consensus estimate of $7.51 billion.
Financial Guidance
Q2’24 Guidance
| • | Net revenues expected to increase approximately 6.5% and 7% FXN. |
| • | GAAP earnings per diluted share expected to be $0.83 compared to $0.92 in the prior year period. |
| ○ | In the second quarter of 2023, GAAP EPS included a positive impact of approximately $0.09 from PayPal’s strategic investment portfolio. |
| • | Non-GAAP earnings per diluted share expected to increase by a low double-digit percentage compared to $0.87 (based on the new non-GAAP methodology) in the prior year period. |
| ○ | Estimated non-GAAP amounts for the three months ending June 30, 2024 reflect adjustments of approximately $150 million, including estimated restructuring charges of approximately $70 million to $90 million. |
FY’24 Guidance
| • | GAAP earnings per diluted share expected to be approximately $3.65, compared to $3.84 in the prior year. |
| ○ | In 2023, GAAP EPS included positive impacts of approximately $0.24 from the gain on sale of Happy Returns and approximately $0.14 from PayPal’s strategic investment portfolio. |
| • | Non-GAAP earnings per diluted share expected to increase by a mid to high single-digit percentage compared to $3.83 (based on the new non-GAAP methodology) in the prior year. |
| ○ | Estimated non-GAAP amounts for the twelve months ending December 31, 2024 reflect adjustments of approximately $490 million, including restructuring charges of $175 million in Q1’24 and additional estimated restructuring charges of approximately $70 million to $90 million in Q2’24. |
Please see “Non-GAAP Financial Measures” and “Non-GAAP Measures of Financial Performance” for important additional information.
“Non-GAAP Measures of Financial Performance” and subsequent tables at the end of this press release provide reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures
For earnings history and earnings-related data on PayPal (PYPL) click here.