PayPal's net revenues in Q2 at $7.9B, up 8%
PayPal Holdings, Inc. revealed on Tuesday that its net revenues in the second quarter of fiscal 2024 stood at $7.9 billion, increasing 8% on an annual basis.
In the reported three-month period, year over year, net income grew 10% to $1.1 billion, while diluted earnings per share (EPS) surged 17% to $1.08. In the third trimester, the company sees its EPS at between $0.96 and $0.98, while revenue is expected to be in the mid-single-digit range.
"PayPal delivered a strong second quarter and first half, and I’m confident we’re on the right track ... Given the strength of our business, we are raising our 2024 guidance and increasing share repurchases. We are operating from a position of strength, delivering for our customers, and focusing on long-term profitable growth," CEO and President Alex Chriss said.
The firm's stock surged 5.68% in the premarket after the report was released.