Stripe
October 1, 2024
Stripe Unicorn News - October 01, 2024
Stripe Payments UK Ltd reports a significant increase in average pay, reaching over €425,000, alongside a surge in revenue and profits. This financial growth is attributed to an increase in processing related activities and share-based payments.
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() Average Pay at Stripe UK Unit Tops €425,000 as Company Sees Revenue and Profits Surge
Stripe Payments UK Ltd, the UK division of Stripe, has reported substantial financial growth for the past year. As of October 1, 2024, the average pay at the company increased to £355,179, primarily due to share-based payments. The company's after-tax profits nearly tripled to £41.62 million, with a pretax profit of £24.29 million. Additionally, Stripe Payments UK Ltd recorded a corporation tax credit of £17.32 million. Operating profits rose by 37% to £19.97 million, and revenues surged from £527.8 million to £698.8 million, driven mainly by increased processing activity. The total remuneration for the company's 278 employees amounted to £98.74 million, which included £47.3 million in salaries and £51.43 million in other compensation costs. Excluding share-based payments, the average pay was £170,159. The company also saw a reduction in staff numbers from 307 to 278.
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