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$PYPL Active Accounts +1% YoY but -0.5% QoQ
Paypal active accounts: 433 million (+1% YoY, -0.5% QoQ)
The QoQ decline may not be unfavorable as it stems from a strategy of prioritizing high-value accounts while discontinuing efforts to retain low-value accounts.
The lost of users in QoQ is the most scary part. Not sure this is the same as can be said for social media ($PINS) when they lost unengaged users (the ones that only clicked through Google on a picture and were redirected to $PINS page). Don't really see how any user is low value if they register to $PYPL at any point.
Still a lot of active accounts. Of course, any slow down isn't what investors want to see. It will be interesting to see how they monetise what they have.
When looking at charts like this I always wonder—
Would the stock price have suffered less if in Q4-22 the number came in flat at 432, ad then in Q1-23 433 was (still the same number) but comparatively an increase QoQ?
Maybe the market would have valued it the same. But interesting to think about.
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