SIn the third quarter, PayPal’s net profit reached $1.248 billion (approximately €1.073 billion), marking a 23.6% increase compared to the same period last year, the company stated in a press release.
The quarterly revenue rose by 7.3% to $8.417 billion (€7.234 billion).
Meanwhile, operational costs increased by 6.8%, amounting to $6.897 billion (€5.928 billion).
PayPal recorded 438 million active accounts, an increase of six million compared to the numbers recorded over the previous 12 months.
For the fourth quarter of this year, the company forecasts a profit ranging from $1.23 to $1.27 per share.
PayPal also announced the initiation of a quarterly dividend distribution program of $0.14 per share, with payment set for December 10th.
CEO Alex Chriss, quoted in the release, stated that the quarterly results were positive and noted that PayPal is establishing “partnerships with leaders such as Google, OpenAI, and Perplexity.”
The multinational corporation has signed an agreement with OpenAI to utilize the Agentic Commerce Protocol (ACP) and connect PayPal accounts to the ChatGPT artificial intelligence assistant.
“Hundreds of millions of people turn to ChatGPT weekly for assistance with daily tasks like finding products they love, and over 400 million use PayPal to shop,” Chriss noted.
Through the new partnership, PayPal aims to “enhance payment and commerce experiences, helping people move from ‘chat’ to ‘checkout’ in just a few clicks.”
