PayPal’s first-quarter results show a 9% revenue increase and a 14% rise in Total Payment Volume, driven by enhanced features in Venmo and strategic market expansions.
The number of people using Venmo has gradually increased, from a low of 3 million in 2015 to a high of nearly 78 million as of the end of 2023.
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FCF, which touched $1.763 billion in Q1 2024 alone. This resurgence can be attributed to, among other factors, robust management strategies, such as buying back shares aggressively in response to the stock’s depressed valuation, which suffered from a significant pullback of 80% in the last few years.
In 2023 alone, PayPal redirected $4.4 billion to buybacks,
