PayPal Holdings, Inc. (NASDAQ:PYPL) Files An 8-K Results of Operations and Financial ConditionItem 2.02.Results of Operations and Financial Condition
The information in this report is being furnished and shall not be deemed “filed” for the purposes of Section18 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.
On July26, 2017, PayPal Holdings, Inc. announced its financial results for the quarter ended June30, 2017. A copy of the company's press release announcing its financial results and certain other information is attached as Exhibit99.1 to this report.
The attached press release includes the following financial 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-GAAPMeasures of Financial Performance,” “Reconciliation of GAAPOperating Margin to Non-GAAPOperating Margin,” “Reconciliation of GAAPNet Income to Non-GAAPNet Income, GAAP Diluted EPS to Non-GAAP Diluted EPS and GAAP Effective Tax Rate to Non-GAAPEffective Tax Rate,” “Reconciliation of Operating Cash Flow to Free Cash Flow,” and “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” 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 company’s results of operations. The company has included these pro forma adjustments because management believes that they help to facilitate comparisons of the company’s 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 company’s performance across different periods.
The attached press release also contains forward-looking statements 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 results 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 July26, 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.
Item 2.02.Financial Statements and Exhibits
(d)Exhibits.
The following exhibit is furnished with this report:
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99.1 |
Press release dated July26, 2017 |
PayPal Holdings, Inc. ExhibitEX-99.1 2 exhibit991prq22017pypl.htm EXHIBIT 99.1 Exhibit Exhibit 99.1PayPal Reports Second Quarter 2017 Results and Raises Financial Guidance for Full YearRevenue increased 18% to $3.136 billion,…To view the full exhibit click here
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 up +0.53 at 58.79 with 8,514,021 shares trading hands.