The above graph represents the PayPal revenue vs net income by year, starting from fiscal 2011 to the recently completed year. The company reported its highest-ever annual revenue and net income in fiscal 2019. With 15% YoY growth, PayPal revenue in 2019 reached $17,772 million (17.8 billion), globally. The growth was primarily driven by 23% YoY growth in TPV (Total Payment Volume). On the other hand, PayPal net income in 2019 also reached a record-high of $2,459 million ($2.5 billion), with nearly 20% YoY growth.
PayPal Annual Revenue, Net Income: History
|Source||PayPal Annual Reports|
|Note||PayPal fiscal year starts from January 1st|
PayPal achieved its first $5 billion annual revenue in 2012. The total revenue clocked $5,662 million ($5.7 billion), with $778 million in net profit.
It took 4 years to set another revenue record; the total revenue crossed $10,842 million or $10.8 billion in 2016, with the net profit of $1,401 million.
In fiscal 2018, PayPal global revenue and net profit clocked $15,451 million and $2,057 million, respectively.
About PayPal Holdings, Inc.
Founded in December 1998 as Confinity Inc., by Max Levchin, Peter Thiel, Luke Nosek, and Ken Howery, PayPal Holding Inc. (NASDAQ: PYPL) was funded by John Malloy from BlurRun ventures.
However, it was March 2000, when Confinity merged with X.com, an online banking company founded by Elon Musk in November 1999. The visionary Musk was quick to visualise the future potential of the money transfer business Confinity was developing. In contrast to that, Bill Harris, the then-president and CEO of X.com, didn’t find much merit in Musk’s thoughts. Soon, Harris decided to part ways was Musk was determined to stay focused on Confinity money transfer service. He was so committed that he terminated the company’s all other Internet banking operations in order to remain focused on the money transfer business.
All these shifts created an impact on Elon Musk’s position in the company he was replaced by Peter Thiel as CEO of X.com. In the following year, the X.com was renamed as PayPal.
The astounding growth of PayPal convinced executives to launch the IPO of PayPal in 2002. After the celebrated acquisition by eBay Inc. (NASDAQ: EBAY) in July 2020 which valued PayPal $1.5 billion – 7% above the IPO price – it was clear that PayPal is en route to become a global leader in money transfer business.
After thirteen years of being under the umbrella of eBay, PayPal once again became an independent publicly traded company.
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