Q1 FY24 Income Statement

PayPal Outlook

The digital payment giant, with over $400 billion in quarterly payment volume, is entering the advertising arena with a new platform built on the spending habits of its 427 million users.

The company hired Mark Grether, former head of Uber’s ad business, to lead this initiative. Uber’s ad revenue will reach a $1 billion run rate in 2024, highlighting the potential of this new venture for PayPal.