Q2 2024 PayPal Holdings Inc Earnings Call Transcript
Key Points
- Total payment volume rose 11% to $417 billion, indicating strong transaction growth.
- Non-GAAP earnings per share increased 36% year over year, showcasing significant profitability.
- Branded checkout continues to grow profitably, contributing positively to transaction margin dollar growth.
- Venmo momentum continues to build, with monthly active accounts increasing and total payment volume growing 8% year over year.
- PayPal is raising its full-year guidance for growth in transaction margin dollars and earnings per share, reflecting confidence in future performance.
- Despite improvements, the company acknowledges that change takes time and there is still much work ahead.
- The international TPV growth showed a decline, primarily due to lapping large Braintree wins from the previous year.
- The company expects lower volume and revenue growth in the second half of the year, particularly in Braintree.
- There is an anticipated decline in the tailwind from interest income on customer balances in the second half of the year.
- The company is planning for some normalization in transaction and credit losses, which could impact future profitability.
Good morning, and welcome to PayPal's second-quarter 2024 earnings conference call. My name is Sarah, and I will be your conference operator today. As a reminder, this conference is being recorded.
I would now like to turn the program over to your host for today's conference, Steve Winoker, PayPal's Chief Investor Relations Officer. Please go ahead.
Thanks, Sarah. Welcome to PayPal's second-quarter 2024 earnings call. I'm joined by President and CEO, Alex Chriss; and CFO, Jamie Miller.
Our remarks today include forward-looking statements that involve risks and uncertainties. Actual results may differ materially from these statements.
Our commentary is based on our best view of the world and our businesses as we see them today. As described in our earnings press release, SEC filings, and on our website, those elements may change as the world changes.
Now, over to you, Alex.
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