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Payment solutions company PayPal Holdings Inc. (NASDAQ: PYPL) announced financial results for the fourth quarter of 2022, reporting higher revenue and profit.
Fourth-quarter revenue rose 7% year over year to $7.4 billion amid strong payment volumes. In 2022, the company is investing in the platform to better serve customers, while focusing and accelerating the business.
The company reported adjusted earnings of $1.24 per share for the three-month period, compared to $1.11 per share in the corresponding period last year. On a reported basis, it was a net profit of $921 million or $0.81 per share, compared to $801 million or $0.68 per share last year.
Check out this space to read management/analyst commentary on PayPal’s Q4 2022 results
“We will continue this work throughout 2023, and I am confident that we can use our unique assets to remain the market leader in digital payments,” said PayPal CEO Dan Schulman.
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