Home ยป Q1 2024 PayPal Consolidated Revenue and Expenditure Volume Still Showing Strong Growth

Q1 2024 PayPal Consolidated Revenue and Expenditure Volume Still Showing Strong Growth

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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