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Paypal(PYPL)2020Q1決算 COVID-19の影響で業績好調


・発表日 2020/5/6 post-market
・売上 $4.62B +11.9% コンセンサス予想より-$100M
・non-GAAP EPS $0.66 +0% コンセンサス予想より-$0.08
GAAP EPS $0.07
GAAP net income $84M
・Venmo TPV $31B +48%
・non-GAAP operating margin 19.7%(前年同期 22.6%)
・2020Q2予想売上 +~15%(為替を除く)
・2020Q2予想non-GAAP EPS +15~20%
・2020FY予想 発表なし
・決算発表後の株価 post-marketで+8.49%

・2020FYコンセンサス予想PER 128.31/2.52=50.91
・2021FYコンセンサス予想PER 128.31/3.21=39.97


In the past month, there has been unprecedented demand for our products and services. Our transactions are up 20% year-over-year, with branded transactions up over 43% more than double pre-COVID levels in January and February. On May 1st, we had our largest single day of transactions in our history, larger than last year's transactions on Black Friday or Cyber Monday.

Our net new actives hit record highs in April, surging over a 140% from January and February levels, averaging approximately 250,000 net new active accounts per day. For the month of April, we added an all-time record of 7.4 million net new customers. I don't want to lose sight of the fact that we also had a record Q1 adding 10 million net new accounts, but that will pale in comparison to the 15 million to 20 million net new active accounts we anticipate adding in Q2. And last but certainly not least, in April, our revenues grew by 20% on an FX-neutral basis, including record revenue growth of 35% in our PayPal checkout experiences.


Active accounts 325M +17%

Payment transactions 3.3B +15%

TPV $191B +18%(為替を除くと+19%

Number of transactions per active account(ttm) 39.4 +4%


Merchant Services 為替を除いて+21%

Venmo $31B +48%


US 売上 $2.46B +13%

International 売上 $2.14B +11%(為替を除くと+14%


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