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Quarterly Unaudited Financial Data
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Unaudited Financial Data
Supplementary Data — Quarterly Unaudited Financial Data

The following tables present certain unaudited consolidated quarterly financial information for the years ended December 31, 2016 and 2015. The fourth quarter of 2015 was the first full quarter post separation and represents our actual results as an independent public company. Results for the first three quarters of 2015 include allocations from eBay and may not be indicative of our results had we been a separate stand-alone entity during those periods.

 
2016 Quarter Ended
 
March 31
 
June 30
 
September 30
 
December 31
 
(Unaudited, in millions, except per share amounts)
Net revenues
$
2,544

 
$
2,650

 
$
2,667

 
$
2,981

Net income
$
365

 
$
323

 
$
323

 
$
390

Net income per share-basic
$
0.30

 
$
0.27

 
$
0.27

 
$
0.32

Net income per share-diluted
$
0.30

 
$
0.27

 
$
0.27

 
$
0.32

Weighted-average shares:
 
 
 
 
 
 
 
Basic
1,216

 
1,210

 
1,207

 
1,207

Diluted
1,225

 
1,215

 
1,214

 
1,216


 
2015 Quarter Ended
 
(Unaudited, in millions, except per share amounts)
 
March 31(1)
 
June 30(1)
 
September 30(2)
 
December 31(2)
Net revenues
$
2,137

 
$
2,297

 
$
2,258

 
$
2,556

Net income
$
255

 
$
305

 
$
301

 
$
367

Net income per share-basic
$
0.21

 
$
0.25

 
$
0.25

 
$
0.30

Net income per share-diluted
$
0.21

 
$
0.25

 
$
0.25

 
$
0.30

Weighted-average shares:(1)(2)
 
 
 
 
 
 
 
Basic
1,218

 
1,218

 
1,221

 
1,223

Diluted
1,224

 
1,224

 
1,227

 
1,230

1 On July 17, 2015, the distribution date, eBay stockholders of record as of the close of business on July 8, 2015 received one share of PayPal common stock for every share of eBay common stock held as of the record date. Basic and diluted net income per share for the first two quarters of 2015 is calculated using the number of common shares distributed on July 17, 2015. Refer to Note 2 to our consolidated financial statements included elsewhere in this Annual Report on Form 10-K for information regarding net income per share.
2 Basic and diluted net income per share for the third and fourth quarters of 2015 is calculated using the weighted average number of common shares outstanding for the period beginning after the distribution date. Refer to Note 2 to our consolidated financial statements included elsewhere in this Annual Report on Form 10-K for information regarding net income per share.