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![Paypal Holdings, Inc. [PYPL] reports quarterly net loss of $888 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FPYPL.png&w=1200&q=75)
PayPal Holdings, Inc. [PYPL] has reported a net loss of $888 million for quarter ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the quarter was $7.7 billion
Based in SAN JOSE, California, PayPal Holdings, Inc. operates in the SERVICES sector.
In the 3 Months Ended March 31, 2024, the company reported net revenues of $7.699 billion, showing an increase from the previous period's $7.040 billion.
Operating expenses for the current period were $6.531 billion compared to $6.041 billion in the same period last year. This resulted in an operating income of $1.168 billion for the current period, higher than the previous period's $999 million.
The company also reported other income (expense) of $41 million in the current period, lower than the $75 million in the previous period. Income before income taxes was $1.209 billion for the current period, an improvement from the $1.074 billion in the previous period.
Income tax expense for the current period was $321 million, higher than the $279 million in the previous period. The net income for the 3 Months Ended March 31, 2024, was $888 million, an increase from the $795 million reported in the same period in 2023.
Earnings per share for the current period were $0.83 (basic and diluted), compared to $0.70 in the previous period. The weighted average shares for basic and diluted earnings per share decreased from 1.129 million and 1.134 million in the previous period to 1.064 million and 1.072 million in the current period, respectively.
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