PayPal Holdings Inc (NASDAQ:PYPL) stock rose 3.36% (As on Apr 28, 11:48:19 AM UTC-4, Source: Google Finance) after the company posted better than expected results. Total Payment Volume (TPV) of $323.0 billion, growing 13% and 15% on an FX-neutral basis (FXN), TPV excluding eBay grew 17% on a spot basis and 19% FXN, representing more than 97% of TPV, Venmo processed $57.8 billion in TPV, growing 12%, 2.4 million Net New Active Accounts (NNAs) added in Q1’22 s to 429 million, up 9%, 5.2 billion payment transactions, up 18% and 47.0 payment transactions per active account on a trailing twelve month basis, growing 11%. Cash, cash equivalents, and investments totaled $15.1 billion as of March 31, 2022. Debt totaled $9.2 billion as of March 31, 2022. In Q1’22, generated cash flow from operations of $1.2 billion, declining 29%, and free cash flow of $1.1 billion, declining 32%. In Q1’22, the company repurchased approximately 11 million shares of common stock, returning $1.5 billion to stockholders.

PYPL in the first quarter of FY 22 has reported the adjusted earnings per share of 88 cents, beating the analysts’ estimates for the adjusted earnings per share of 87 cents. The company had reported the adjusted revenue growth of 7 percent to $6.48 billion in the first quarter of FY 22, beating the analysts’ estimates for revenue of $6.4 billion. Revenue excluding eBay grew 15% on a spot basis, on top of 38% growth in Q1’21.

For fiscal 2022, the company expects revenue to grow 11%-13% with TPV surpassing $1.4 trillion, TPV growth expected to be in the range of ~13%-15% and ~15%-17% on an FXN basis, Net revenues expected to grow ~11%-13% on a spot and FXN basis; excluding eBay, revenue expected to grow ~15%-17% on a spot basis, non-GAAP EPS expected to be in the range of ~$3.81-$3.93 and approximately 10 million NNAs expected to be added to PayPal’s platform in FY’22

On the other hand, the company has renewed and expanded global strategic partnerships with American Express and Citibank to continue giving customers choice in how they pay. The company has introduced savings as the latest new feature in the revamped PayPal digital wallet, offering U.S. customers more ways to save and manage their money. The company has launched new Pay Later offerings in Japan and Germany and continued to expand relationships with leading global merchants.