PayPal Q1 results beat on e-commerce growth, cost cutting initiatives; guidance raised
PayPal (NASDAQ:PYPL): Q1 Non-GAAP EPS of $1.17  beats by $0.07.
Revenue of $7.04B (+8.3% Y/Y)  beats by $50M.
The company attributed the growth to a strong growth in the e-commerce industry and its cost-cutting initiatives.
Total Payment Volume of $355B vs. $323B a year ago.

Transactions grew 13% to 5.8B
Transactions per active account grew 13% to 53.1,vs. 47.0 last year.
FY23 Non-GAAP EPS now expected to grow ~20% to ~$4.95; up from prior guidance of ~18% growth to ~$4.87
Q2 Revenues expected to grow ~6.5%-7% on a spot basis and ~7.5%-8% FXN. Non-GAAP EPS expected to grow 24%-26% to $1.15-$1.17, vs. consensus of $1.17, compared to $0.93 in the prior-year period.
Shares +4.18% post-market.