Report
Martin Marandon-Carlhian ...
  • Stephane Houri

PayPal : Slowdown in growth potentially lasting beyond 2022 – 2022-2023e EPS lowered by 17%, Neutral recommendation maintained

>Q1 2022 broadly in line with expectations - PayPal reported its Q1 2022 results yesterday after trading. Revenue came in at $ 6.48bn, up 7.5% yoy (consensus $ 6.40bn, guidance $ 6.39bn) and +15% excluding eBay. Total payment volume (TPV) was $ 323bn, up 13% yoy, while PayPal added 2.4m new accounts this quarter (vs 10m in Q4 and 13m in Q3). Operating margin (non-GAAP) was 20.7%, above the consensus forecast of 20.1%. Adjusted EPS was $ 0.88 (vs $ 1.22 in Q1 2021), in...
Underlying
PayPal Holdings Inc

PayPal Holdings is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. The company's combined payment solutions include its PayPal, PayPal Credit, Braintree, Venmo, Xoom and iZettle products and services. PayPal's payment solutions enable the company's customers to send and receive payments. PayPal helps merchants and consumers connect, transact, and complete payments, whether they are online, on a mobile device, in an app, or in person. The company provides proprietary payment solutions accepted by merchants that enable the completion of payments on the company's Payments Platform on behalf of its customers.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Martin Marandon-Carlhian

Stephane Houri

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