PayPal has released its first-quarter performance report for 2024, presented by CEO Alex Chriss. Chriss emphasized that the figures released reflect a positive operational performance and significant progress in various strategic initiatives, focusing on new strategies and cost control.
Key operational figures include:
– Total revenue increased by 9% to $7.699 billion.
– Net profit under GAAP accounting reached $1.072 billion.
– Total payment volume on the platform increased by 14% to $403.86 billion from 6.505 billion transactions.
PayPal experienced a 1% decline in active accounts to 427 million over the year, while monthly active accounts saw a 2% increase to 220 million.
Source: PayPal (pdf)
TLDR: PayPal reported strong first-quarter performance in 2024, with revenue, net profit, and payment volume all showing positive growth. Active accounts saw a minor decline over the year, but monthly active accounts recorded an increase.
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