PayPal Holdings Inc. said on Wednesday that its net revenues in the second quarter of its fiscal 2023 came in at $7.3 billion, 7% higher than in the corresponding timeframe in 2022.
Operating income rose 48% year on year to $1.1 billion in the second three-month period of 2023 and earnings per diluted share stood at $0.92, improving from loss per diluted share of $0.29 recorded in the second trimester of 2022.
"PayPal delivered another solid quarter, with revenue at the high end of guidance. We continue to invest in our key initiatives while delivering on our operating expense commitments. The agreement to sell our European buy now, pay later receivables to KKR helps optimize our balance sheet and is another example of disciplined capital allocation," Senior Vice President and Acting CFO Gabrielle Rabinovitch commented. PayPal's shares lost 6.91% in after-hours trading.
