PayPal's revenue up 9% to $6.8B in Q2

Tuesday, 02. August 2022 22:20

PayPal Holdings Inc. announced on Tuesday that its net revenue in the second quarter of the fiscal year 2022 increased by 9% to come at $6.8 billion year on year.

The company's total payment volume (TPV) jumped by 9% compared to the same period the year before to reach $339.8 billion. Its operating income went down by 32% year-on-year to $800 million. Diluted earnings per share (EPS) declined by 129% annually to $0.29.

"Our second quarter results were solid with currency-neutral revenue. We continue to gain share as we execute across our key strategic initiatives, even as we drive operational efficiency across our business," PayPal's President and Chief Executive Officer (CEO) Dan Schulman commented on the results.

Following the release of the report, the company's shares went up by 12.94% in after-hours trading.

Related Links: PayPal Holdings Inc.
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Baha Breaking News (BBN) / AB