PayPal Holdings, Inc. (NASDAQ:PYPL) Files An 8-K Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition
deemed filed for the purposes of Section 18 of the Securities
Exchange Act of 1934, or the Exchange Act, and shall not be
incorporated or deemed to be incorporated by reference into any
filing by PayPal Holdings, Inc., or the company, under the
Securities Act of 1933 or the Exchange Act, regardless of any
general incorporation language contained in such filing, unless
otherwise expressly stated in such filing.
results for the quarter ended March 31, 2017. A copy of the
company’s press release announcing its financial results and
certain other information is attached as Exhibit 99.1 to this
report.
measures defined as non-GAAP financial measures by the Securities
and Exchange Commission, or the SEC: non-GAAP net income, non-GAAP
earnings per diluted share, non-GAAP operating margin, non-GAAP
effective tax rate and free cash flow. For an explanation of the
foregoing non-GAAP measures, please see Non-GAAP Measures of
Financial Performance included in the attached press release. These
measures may be different from non-GAAP financial measures used by
other companies. The presentation of this financial information,
which is not prepared under any comprehensive set of accounting
rules or principles, is not intended to be considered in isolation
of, or as a substitute for, the financial information prepared and
presented in accordance with generally accepted accounting
principles. For a reconciliation of these non-GAAP financial
measures to the most directly comparable GAAP measures, please see
Non-GAAP Measures of Financial Performance, Reconciliation of GAAP
Operating Margin to Non-GAAP Operating Margin, Reconciliation of
GAAP Net Income to Non-GAAP Net Income, GAAP Diluted EPS to
Non-GAAP Diluted EPS and GAAP Effective Tax Rate to Non-GAAP
Effective Tax Rate, Reconciliation of GAAP Net Revenues by Type to
Non-GAAP Pro Forma Net Revenues by Type, and GAAP Net Revenues by
Geography to Non-GAAP Pro Forma Net Revenues by Geography, and
Reconciliation of Operating Cash Flow to Free Cash Flow, included
in the attached press release. In addition, the company has
included certain pro forma adjustments in its presentation of
certain historical revenue measures in the attached press release
(collectively referred to as non-GAAP pro forma measures). These
adjustments reflect items that are factually supportable, directly
attributable to the separation of the company from eBay Inc. on
July 17, 2015, and expected to have a continuing impact on the
companys results of operations. The company has included these pro
forma adjustments because management believes that they help to
facilitate comparisons of the companys operating results between
periods. In discussing year-over-year comparisons, the company has
chosen to present non-GAAP pro forma measures because it believes
that these measures provide investors a consistent basis for
reviewing the companys performance across different periods.
relating to, among other things, the future results of operations,
financial condition, expectations and plans of the company that
reflect PayPal’s current projections and forecasts. A more
thorough discussion of certain factors that could adversely affect
PayPal’s results of operations, financial condition, expectations
and plans or that could cause actual result to differ from those
expressed or implied in forward-looking statements is included
under the captions Risk Factors and Management’s Discussion and
Analysis of Financial Condition and Results of Operations in our
most recent annual report on Form 10-K and subsequent quarterly
reports on Form 10-Q, copies of which may be obtained by visiting
the company’s investor relations web site at
https://investor.paypal-corp.com or the SEC’s web site at
www.sec.gov. All information in the attached press release is as of
April 26, 2017. Undue reliance should not be placed on the
forward-looking statements in the attached press release, which are
based on information available to the company on the date hereof.
The company assumes no obligation to update such forward-looking
statements.
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99.1
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Press release dated April 26, 2017
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About PayPal Holdings, Inc. (NASDAQ:PYPL)
PayPal Holdings, Inc. (PayPal) is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants across the world. The Company allows businesses of all sizes to accept payments from merchant Websites, mobile devices and applications, and at offline retail locations through a range of payment solutions. Its combined payment solution capabilities, including its PayPal, PayPal Credit, Braintree, Venmo and Xoom products, comprise its Payments Platform. It allows its customers to use their account to both purchase and be paid for goods, as well as transfer and withdraw funds. A consumer can typically fund a purchase using a bank account, a PayPal account balance, a PayPal Credit account, a credit or debit card or other stored value products, such as coupons and gift cards. The PayPal, Venmo, and Xoom products allow friends and family to transfer funds to each other, including cross border transfers using several of these funding sources. PayPal Holdings, Inc. (NASDAQ:PYPL) Recent Trading Information
PayPal Holdings, Inc. (NASDAQ:PYPL) closed its last trading session down -0.30 at 44.41 with 7,827,949 shares trading hands.
