PayPal — Apr 29, 2025 release

1Q 2025 Results 1                               1Q'25 Financial Results Presented in millions, except per share data and percentages 1Q'25 1Q'24 YoY Growth FXN YoY Growth Total payment volume $417,208 $403,860 3% 4% GAAP Net revenues $7,791 $7,699 1% Operating income $1,530 $1,168 31% Operating margin 19.6% 15.2% 447bps Effective tax rate 19.7% 26.6% (6.8pts) Net income (loss) $1,287 $888 45% Earnings per diluted share $1.29 $0.83 56% Net cash provided by operating activities $1,160 $1,917 (39%) Non-GAAP Net revenues $7,791 $7,699 1% 2% Transaction margin dollars $3,716 $3,461 7% Transaction margin dollars excluding interest on customer balances $3,418 $3,189 7% Operating income $1,616 $1,399 16% Operating margin 20.7% 18.2% 257bps Effective tax rate 19.5% 22.4% (3.0)pts Net income $1,329 $1,155 15% Earnings per diluted share $1.33 $1.08 23% Free cash flow $964 $1,763 (45%) Adjusted free cash flow $1,381 $1,856 (26%) ————————————————————————————————————————————— Financial Guidance 2025 Guidance: PayPal is maintaining full year guidance due to uncertainty in the global macro environment despite a strong start to the year. April 2025 Guidance February 2025 Guidance Prior year period 2Q'25 GAAP EPS $1.24 - $1.26 N/A $1.08 Non-GAAP EPS 1 $1.29 - $1.31 N/A $1.19 FY'25 GAAP EPS 2 $4.80 - $4.95 $4.80 - $4.95 $3.99 Non-GAAP EPS 3 $4.95 - $5.10 $4.95 - $5.10 $4.65 Please see “Non-GAAP Financial Measures” and “Non-GAAP Measures of Financial Performance” for reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures and important additional information. 1. Estimated non-GAAP amounts for the three months ending June 30, 2025 reflect adjustments of approximately $50 million. 2. FY'24 GAAP EPS included a negative impact of ~$0.23 from PayPal’s strategic investment portfolio. 3. Estimated non-GAAP amounts for the full year ending December 31, 2025 reflect adjustments of approximately $200 million. 1Q 2025 Results 2 Conference Call & Webcast PayPal Holdings, Inc. will host a conference call to discuss first quarter 2025 results at 8:00 a.m. Eastern Time today. A live webcast of the conference call, together with a slide presentation that includes supplemental financial information and reconciliations of certain non-GAAP measures to their most directly comparable GAAP measures, can be accessed through the company’s Investor Relations website at https://invest