PayPal Holdings, Inc. shared on Tuesday that its net revenue reached $7.8 billion in the first quarter of fiscal 2025, marking a 1% increase from the same quarter a year earlier.
Operating income jumped 31% to $1.5 billion, while GAAP earnings per diluted share (EPS) surged 56% compared to the same period of 2024, reaching $1.29. On the other hand, GAAP net income also climbed 45% to $1.2 billion. The US online payment company reported an increase in total payment volume of 3%, standing at $417.2 billion.
"PayPal had a great start to the year and our strategy is working. This is our fifth consecutive quarter of profitable growth with progress across branded checkout, PSP, omnichannel, and Venmo. We are transforming into the leading commerce platform connecting consumers and merchants globally. Our foundation is solid and we have multiple ways to win," President and CEO Alex Chriss said.
The company's shares were down 3.37% in the premarket trading following the release of the report.
