PayPal Holdings, Inc. (NASDAQ:PYPL) Q4 2017 Earnings Conference Call - Final Transcript
Jan 31, 2018 • 06:00 pm ET
Good day, ladies and gentlemen, and welcome to PayPal's Fourth Quarter and Full Year 2017 Earnings Conference Call. [Operator Instructions] Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions]
I would now like to introduce your host for today's conference, Ms. Gabrielle Rabinovitch, Head of Investor Relations. Please go ahead.
Thank you, Sherrie. Good afternoon and thank you for joining us. Welcome to PayPal Holdings' earnings conference call for the fourth quarter and full year 2017. Joining me today on the call are Dan Schulman, our President and CEO, John Rainey, our Chief Financial Officer, and Bill Ready, our Chief Operating Officer. We're providing a Slide presentation to accompany our commentary. This conference call is also being webcast and both the presentation and call are available through the Investor Relations section of our website.
We will discuss some non-GAAP measures in talking about our Company's performance. You can find a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures in the presentation accompanying this conference call. In addition, management will make forward-looking statements that are based on our current expectations, forecasts and assumptions, and involve risks and uncertainties. These statements include our guidance for the first quarter and full year 2018 and the expected impact of tax reform. Our actual results may differ materially from these statements.
You can find more information about risks, uncertainties and other factors that could affect our results in our most recent annual report on Form 10-K, and quarterly reports on Form 10-Q filed with the SEC and available on the Investor Relations section of our website. You should not rely on any forward-looking statements. All information in this presentation is as of today's date, January 31, 2018. We expressly disclaim any obligation to update the information.
With that, let me turn the call over to Dan.
Thank you, Gabrielle, and thanks everyone for joining us on today's call. 2017 was a transformative year for PayPal with consistently strong and in many cases record breaking results. I'd like to highlight couple of areas in particular. First, we achieved record net new actives and engagement on our core platform, by increasing our reach and relevant with both consumers and merchants.
Importantly, we anticipate this elevated level of net new actives to continue in 2018. As we experience increasing network effects from our scale. Second, we continue to grow our market share through our increasing leadership in mobile and by introducing a suite of new and innovative services and project experiences for our customers.
Third, we meaningfully strengthened our competitive positioning due to rollout customer choice. The combination of customer choice and our move towards an open platform architecture enabled strategic partnership with many of the world leading companies. Several of these companies had previously been perceived as potential adversaries.
These partnerships have opened new avenues of growth from geographic expansion to in-store payments. Fourth, we announced a new long-term strategic partnership with Synchrony Financial, which will result