PayPal Holdings, Inc. reported a net revenue of $31.8 billion for the fiscal year ending December 31, 2024, marking a 7% increase from $29.8 billion in 2023. The growth was primarily driven by a 10% rise in total payment volume (TPV), which reached $1.68 trillion, alongside a 5% increase in the number of payment transactions, totaling 26.3 billion. Operating income also saw a modest increase of 6%, reaching $5.3 billion, while net income slightly decreased by 2% to $4.1 billion, attributed to a significant decline in other income, primarily from strategic investments.
In terms of operational metrics, PayPal's active accounts grew to 434 million, a 2% increase from the previous year. The company processed 26.3 billion payment transactions, reflecting a 5% rise. The average number of transactions per active account increased to 60.6, up from 58.7 in 2023. PayPal's international operations accounted for approximately 43% of its net revenues, indicating a stable contribution from global markets despite fluctuating foreign exchange rates.
Strategically, PayPal has focused on enhancing its product offerings and expanding its market presence. The company has continued to invest in its technology infrastructure, with research and development expenses totaling $1.5 billion in 2024. Additionally, PayPal has been actively managing its credit products, with a consumer loan portfolio of $5.4 billion, reflecting a 13% increase year-over-year. The company also entered into a multi-year agreement to sell U.K. and European buy now, pay later loan receivables, which is expected to enhance its liquidity and operational flexibility.
The filing also highlighted significant changes in operating expenses, which rose by 7% to $26.5 billion, driven by transaction expenses and restructuring costs. Notably, transaction losses decreased by 14%, indicating improved risk management and credit quality. PayPal's employee headcount stood at approximately 24,400 as of December 31, 2024, with a continued emphasis on maintaining a diverse workforce.
Looking ahead, PayPal anticipates continued growth in its branded checkout business and plans to expand its value proposition for both consumers and merchants. The company aims to leverage data analytics to enhance customer experiences and drive engagement across its platforms. However, it remains cautious of potential regulatory challenges and competitive pressures in the evolving payments landscape.
About PayPal Holdings, Inc.
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