PayPal has reported its fourth quarter results for the year 2024, totaling $8.366 billion in revenue, marking a 4% increase from the same period the previous year. Net spending on the platform reached $437.836 billion, up by 7%, with a net profit of $1.121 billion according to GAAP accounting standards.
Transaction volume on the platform decreased by 3% to 6.619 billion transactions, while the number of active accounts in the past 12 months stood at 434 million accounts. CEO Alex Chriss mentioned that the company had shifted its focus and introduced new business initiatives in the past year, which have started to yield positive results.
In addition, partnerships with various brands, the P2P system, and the support for accounts and Venmo have further bolstered the company’s rapid growth.
Source: PayPal (pdf)
TLDR: PayPal’s Q4 2024 report shows revenue growth, increased platform activity, and strategic business initiatives contributing to positive outcomes.
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