In this video, I will talk about PayPal's (PYPL -1.83%) first-quarter earnings report and go over some key points management mentioned during the call. You can find the video below, but here are some highlights.
- The company reported revenue of $6.5 billion, up 7% year over year, and earnings per share of $0.88, down 28% year over year.
- Venmo ended the quarter with 85 million users and is set to launch Pay with Venmo on Amazon later this year.
- Management also reiterated its 50%-plus revenue growth guidance for Venmo.
- PayPal added 2.4 million net new active accounts and ended the quarter with 429 million active accounts, up 9%.
- PayPal bought back $1.5 billion in stock year to date. That's equal to 44% of the whole of last year.
- PayPal ended the quarter with free cash flow of $1.1 billion, down 32%. The company is expecting to end the year with $5 billion in free cash flow, so I wouldn't be surprised if it repurchased more shares at these prices.
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*Stock prices used were the closing prices of April 29, 2022. The video was published on May 1, 2022.
