PARTIV ConsolidatedStatementsofIncome(Loss) PayPalHoldings,Inc. ConsolidatedStatementsofIncome(Loss) YearEndedDecember31, 2022 2021 2020 (In millions, except for per share amounts) Netrevenues $ 27,518 $ 25,371 $ 21,454 Operatingexpenses: Transactionexpense 12,173 10,315 7,934 Transactionandcreditlosses 1,572 1,060 1,741 Customersupportandoperations 2,120 2,075 1,778 Salesandmarketing 2,257 2,445 1,861 Technologyanddevelopment 3,253 3,038 2,642 Generalandadministrative 2,099 2,114 2,070 Restructuringandothercharges 207 62 139 TOTALOPERATINGEXPENSES 23,681 21,109 18,165 Operatingincome 3,837 4,262 3,289 Otherincome(expense),net (471) (163) 1,776 Incomebeforeincometaxes 3,366 4,099 5,065 Incometaxexpense(benefit) 947 (70) 863 NETINCOME(LOSS) $ 2,419 $ 4,169 $ 4,202 Netincome(loss)pershare: Basic $ 2.10 $ 3.55 $ 3.58 Diluted $ 2.09 $ 3.52 $ 3.54 Weightedaverageshares: Basic 1,154 1,174 1,173 Diluted 1,158 1,186 1,187 Theaccompanyingnotesareanintegralpartoftheseconsolidatedfinancialstatements. 58 •2022AnnualReport