🔹 Adj. EPS: $1.33 (Est. $1.16) 🟢; UP +23% YoY
🔹 Revenue: $7.79B (Est. $7.85B) 🔴; UP +1% YoY
🔹 Total Payment Volume: $417.21B (Est. $417.95B) 🔴; UP +3% YoY
Outlook:
🔹 Q2 Adj. EPS: $1.29–$1.31 (Est. $1.22) 🟢
🔹 FY25 Adj. EPS: $4.95–$5.10 (Est. $4.95–$5.10) 🟡
🔸 Guidance unchanged due to macro uncertainty
Q1 Key Metrics:
🔹 Active Accounts: 436M (Est. 435.64M) 🟢; UP +2% YoY
🔹 Payment Transactions: 6.0B; DOWN -7% YoY
🔹 Payment Transactions ex-PSP: UP +6% YoY
🔹 TPA (Trailing-12M): 59.4 (DOWN -1% YoY); ex-PSP: UP +4%
🔹 Transaction Margin $: $3.72B (Est. ~$3.30B) 🟢; UP +7% YoY
🔹 Transaction Margin ex-Interest on Customer Balances: $3.42B 🟢; UP +7% YoY
🔹 Non-GAAP Operating Income: $1.62B (Est. ~$1.50B) 🟢; UP +16% YoY
🔹 Non-GAAP Operating Margin: 20.7% (Est. 19.2%) 🟢; UP +257bps YoY
Cash Flow and Liquidity:
🔹 Free Cash Flow: $964M; DOWN -45%
🔹 Adjusted Free Cash Flow: $1.38B; DOWN -26%
🔹 Operating Cash Flow: $1.16B
🔹 Cash & Investments: $15.8B
🔹 Debt: $12.6B
🔹 Share Repurchase: 19M shares ($1.5B returned in Q1); $6B returned over trailing 12 months
Additional Metrics:
🔹 GAAP EPS: $1.29 (Est. N/A); UP +56% YoY
🔹 GAAP Operating Margin: 19.6% (vs. 15.2% YoY)
🔹 FX-Neutral (FXN) Revenue Growth: +2%
🔹 Take Rate (Implied): ~1.87% 🟢 (Est. 1.85%)
🔹 Transaction Margin Rate: ~47.7% 🟢 (Est. 46.1%)
CEO Alex Chriss Commentary:
🔸 “PayPal had a great start to the year and our strategy is working.”
🔸 “This is our fifth straight quarter of profitable growth across branded checkout, PSP, omnichannel, and Venmo.”
🔸 “We are transforming into the leading commerce platform connecting consumers and merchants globally.”
