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PayPal Holdings Inc. (PYPL+1.31%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total net revenues of $31.8 billion, a 7% increase from the previous year, driven by a 10% growth in total payment volume (TPV) to $1.68 trillion.
Operating expenses for the year were $26.5 billion, up 7% from 2023, primarily due to higher transaction expenses.
Net income for 2024 was $4.1 billion, a slight decrease from $4.2 billion in 2023, attributed to a reduction in other income.
The company processed 26.3 billion payment transactions in 2024, a 5% increase from the prior year, with active accounts reaching 434 million.
PayPal's cash, cash equivalents, and investments totaled $13.8 billion as of December 31, 2024, compared to $15.5 billion at the end of 2023.
The company repurchased approximately $6.0 billion of its common stock during 2024 under its stock repurchase program.
PayPal continues to face competition in the global payments industry and is subject to extensive regulation impacting its operations.
The filing highlights risks associated with cybersecurity, regulatory compliance, and the management of customer funds.
PayPal's strategic focus includes enhancing its payment platform, expanding its product offerings, and maintaining regulatory compliance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PayPal Holdings Inc. annual 10-K report dated February 4, 2025. To report an error, please email earnings@qz.com.