PayPal Holdings, Inc. (PYPL) [Rocket]

In millions, except per share items	Jun-30-22	Mar-31-22	Jun-30-21	Mar-31-21	Dec-31-20	Sep-30-20	Jun-30-20	Mar-31-20
	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q
Net revenues	6,806	6,483	6,238	6,033	6,116	5,459	5,261	4,618
Net revenues growth	9.1%	7.5%	18.6%	30.6%	23.3%	24.7%	22.2%	11.9%
Operating expenses:
Transaction expense	3,044	2,817	2,524	2,275	2,330	2,022	1,843	1,739
Transaction and credit losses	448	369	169	273	366	344	440	591
Customer support and operations	536	534	521	518	507	449	423	399
Sales and marketing	595	594	628	602	605	471	414	371
Technology and development	815	815	746	741	732	674	631	605
General and administrative	514	607	522	524	569	503	512	486
Restructuring and other charges	90	36	1	58			47
Total operating expenses	6,042	5,772	5,111	4,991	5,153	4,482	4,310	4,220
Operating income	764	711	1,127	1,042	963	977	951	398
Operating margin	11.2%	11.0%	18.1%	17.3%	15.7%	17.9%	18.1%	8.6%
Other income (expense), net	-715	-82	229	-170	896	167	848	-135
Income before income taxes	49	629	1,356	872	1,859	1,144	1,799	263
Income tax expense (benefit)	390	120	172	-225	292	123	269	179
Net income (loss)	-341	509	1,184	1,097	1,567	1,021	1,530	84

Net income (loss) per share:
Basic (in dollars per share)	($0.29)	$0.44	$1.01	$0.94	$1.33	$0.87	$1.30	$0.07
Diluted (in dollars per share)	($0.29)	$0.43	$1.00	$0.92	$1.32	$0.86	$1.29	$0.07

Weighted average shares:
Basic (in shares)	1	1,163	1,174	1,173	1,173	1,172	1,173	1,173
Diluted (in shares)	1	1,172	1,186	1,190	1,187	1,190	1,184	1,185