PayPal
What matters nowUpdated 6 h ago
- The most recent development is the 9 September 2026 launch of PYUSDx, a developer platform for issuing custom stablecoins on PayPal USD, with three issuers live at launch that had processed more than $100 million in volume 1. It followed the 5 September cut of 251 San Jose jobs under a plan to reduce about 20% of staff and save about $1.5 billion 2.
- The largest recent move was -12.53% on 28 August, the day Stripe and Advent were reported to have abandoned their $60.50-a-share approach, which had valued PayPal at more than $53 billion 3 4. The board had judged that bid too low 5.
- The pooled 24/7 venue price was $56.22 on 13 October, up 0.36% from the previous close of $56.02.
- Fundamentals as of 31 March 2026 show trailing revenue of $33.7 billion, up 5.8% year on year, and trailing EPS of $5.33, up 19.5%, with a 15.0% net margin, a P/E of 10.5, EV/EBITDA of 7.7 and an 11.0% FCF yield. Over the last 180 days insiders made 12 sales worth $2.0 million, all flagged as planned, and one buy worth $0.25 million.
- The next scheduled event is Q3 2026 earnings, expected on 27 October 2026 (day precision, not yet confirmed). Polymarket odds for the Fed's October 2026 meeting put no change in rates at 81.5% and a 25 bp increase at 17.5%, and September CPI is due on 14 October.
PYMNTS · Sep 9
Los Angeles Times via Honolulu Star-Advertiser · Sep 5
Bloomberg (via The Irish Times) · Aug 28
Reuters (via The Star) · Jul 14
Reuters (via The Star) · Jul 16
PayPal runs a global digital payments platform. Its checkout buttons, Venmo wallet, Braintree payment processing and buy-now-pay-later loans let consumers and merchants move money online and in stores. Fiscal 2025 total net revenues were $33.2 billion, up 4%. In the second quarter of 2026 PayPal reported total payment volume of $486.4 billion, up 10%, and raised its full-year non-GAAP transaction margin dollar and EPS guidance. Enrique Lores became CEO on March 1, 2026, and the company reorganized into three businesses in April 2026.
How it makes money
PayPal earns transaction revenue, mostly a percentage of each payment plus a fixed fee, from merchants and consumers who pay through its checkout, Venmo and Braintree. It also earns other value-added services revenue from interest and fees on consumer and merchant loans, advertising, and fees for services such as currency conversion and data tools. Its largest cost is transaction expense, which is the fees it pays card networks, banks and processors on each payment. Transaction margin dollars, the revenue left after transaction expense, is the main profit driver.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-03-31 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
PayPal checkout
Branded checkout has stabilized after a period of decline, according to the Q2 2026 results.
Venmo
Management names Venmo as a growth driver; the company is building it into a consumer financial services platform.
Braintree
Management cites momentum in Braintree; the company does not report a separate Braintree volume figure.
Pay Later loans
Buy-now-pay-later now offered with Amazon in Germany and Austria as of July 2026.
Latest newsAll news →
Venmo Credit Card offers up to 4% cash back on split payments from October 15
PayPal's Venmo Credit Card now pays up to 4% cash back on dining and entertainment, with 3% automatic and an extra 1% when the purchase is split with a Venmo friend within 30 days.
PayPal launches PYUSDx developer platform for custom PYUSD-backed stablecoins
PayPal launched PYUSDx on September 9, 2026, a platform that lets businesses and developers issue their own stablecoins on top of PayPal USD (PYUSD).
PayPal cuts 251 San Jose jobs as part of a plan to shed about 20% of staff
PayPal is cutting 251 employees at its San Jose headquarters, according to a government filing, as part of a multi-year restructuring under CEO Enrique Lores.
PayPal president Frank Keller sells 4,612 shares under a 10b5-1 plan
Frank Keller, President of Checkout Solutions & PayPal, sold 4,612 PayPal shares in three trades on September 3, 2026, at weighted average prices of about $54.68 to $56.71.
PayPal chief accounting officer Chris Natali sells 552 shares
Chris Natali, SVP and Chief Accounting Officer at PayPal, sold 552 shares on September 3, 2026, at $54.80 each.
Stripe and Advent abandon pursuit of PayPal after valuation gap
Bloomberg reported that Stripe and Advent had dropped their pursuit of PayPal after the two sides could not agree on the company's value.
Products & businesses
PayPal checkout
Branded checkout has stabilized after a period of decline, according to the Q2 2026 results.
Venmo
Management names Venmo as a growth driver; the company is building it into a consumer financial services platform.
Braintree
Management cites momentum in Braintree; the company does not report a separate Braintree volume figure.
Pay Later loans
Buy-now-pay-later now offered with Amazon in Germany and Austria as of July 2026.
Agentic commerce
Live with several AI shopping platforms; the UK launch with in-app checkout went live in June 2026.
PayPal World
Cross-border payments extended to Weixin Pay merchants in China for US travellers in August 2026.
PYUSD stablecoin
PayPal USD now sits in the Payment Services & Crypto business announced in April 2026.
PayPal Ads
The company is promoting measurement results for advertisers on its shopping data as of June 2026.
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Transaction revenue Fees earned on payments processed through PayPal checkout, Venmo and Braintree, before the transaction expense PayPal pays to networks and processors. Figures are for the three months ended June 30, 2026, the latest reported quarter. | $7.83B | 90.2% | |
| Other value-added services Interest and fees on consumer and merchant loans, interest on customer balances, advertising, and fee-based services. Figures are for the three months ended June 30, 2026, the latest reported quarter. | $850.0M | 9.8% |
Fiscal Q2 2026 (three months) · from the annual report
Valuation & fundamentals
TTM through 2026-03-31 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q1 FY2026 2026-03-31 | Q4 FY2025 2025-12-31 | Q3 FY2025 2025-09-30 | Q2 FY2025 2025-06-30 | Q1 FY2025 2025-03-31 | Q4 FY2024 2024-12-31 | Q3 FY2024 2024-09-30 | Q2 FY2024 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $33.73B | $8.35B +7% | $8.68Bd +4% | $8.42B +7% | $8.29B +5% | $7.79B +1% | $8.37Bd +4% | $7.85B +6% | $7.88B +8% |
| Operating income | $6.02B | $1.49B -3% | $1.51Bd +5% | $1.52B +9% | $1.50B +14% | $1.53B +31% | $1.44Bd -17% | $1.39B +19% | $1.32B +17% |
| Net income | $5.06B | $1.11B -14% | $1.44Bd +28% | $1.25B +24% | $1.26B +12% | $1.29B +45% | $1.12Bd -20% | $1.01B -1% | $1.13B +10% |
| EPS (diluted) | $5.33 | $1.21 -6% | $1.53d +39% | $1.30 +31% | $1.29 +19% | $1.29 +55% | $1.10d -15% | $0.99 +6% | $1.08 +17% |
| Operating cash flow | $6.39B | $1.13B -2% | $2.38Bd -0% | $1.97Bd +22% | $898.0Md -41% | $1.16B -39% | $2.39Bd -8% | $1.61Bd +28% | $1.52Bd |
| Capital expenditure | $887.0M | $231.0M +18% | $194.0Md -4% | $256.0Md +51% | $206.0Md +31% | $196.0M +27% | $203.0Md +40% | $169.0Md +7% | $157.0Md +5% |
| Share buybacks | $6.05B | $1.50B +0% | $1.50Bd +18% | $1.50Bd -16% | $1.55Bd +3% | $1.50B -0% | $1.27Bd +109% | $1.78Bd +24% | $1.50Bd -2% |
| Cash & equivalents | $6.98B | $6.98B | $8.05B | $8.99B | $6.69B | $7.57B | $6.66B | $7.37B | $7.80B |
| Total debt | $10.88B | $10.88B | $9.99B | $11.28B | $11.30B | $11.42B | $9.88B | $9.98B | $9.73B |
| Shares outstanding | 892.0M | 892.0M | 920.0M | 941.0M | 960.0M | 979.0M | 993.0M | 1.01B | 1.03B |
| Metric | FY2025 2025-12-31 | FY2024 2024-12-31 | FY2023 2023-12-31 | FY2022 2022-12-31 |
|---|---|---|---|---|
| Revenue | $33.17B +4% | $31.80B +7% | $29.77B +8% | $27.52B |
| Operating income | $6.07B +14% | $5.33B +6% | $5.03B +31% | $3.84B |
| EBIT | $6.07B +14% | $5.33B +6% | $5.03B +31% | $3.84B |
| Depreciation & amortization | $963.0M -7% | $1.03B -4% | $1.07B -19% | $1.32B |
| Interest expense | $441.0M +15% | $382.0M +10% | $347.0M +14% | $304.0M |
| Income tax | $1.06B -10% | $1.18B +1% | $1.17B +23% | $947.0M |
| Net income | $5.23B +26% | $4.15B -2% | $4.25B +76% | $2.42B |
| EPS (diluted) | $5.41 +36% | $3.99 +4% | $3.84 +84% | $2.09 |
| Dividends per share | $0.14 | — | — | — |
| Diluted shares (weighted) | 968.0M | 1.04B | 1.11B | 1.16B |
| Operating cash flow | $6.42B -14% | $7.45B +54% | $4.84B -17% | $5.81B |
| Capital expenditure | $852.0M +25% | $683.0M +10% | $623.0M -12% | $706.0M |
| Share buybacks | $6.05B +0% | $6.05B +21% | $5.00B +19% | $4.20B |
| Dividends paid | $130.0M | $0 | $0 | — |
| Cash & equivalents | $8.05B | $6.66B | $9.08B | $7.78B |
| Long-term debt (incl. current portion) | $9.99B | $9.88B | $9.68B | $10.42B |
| Total debt | $9.99B | $9.88B | $9.68B | $10.42B |
| Total assets | $80.17B | $78.72B | $82.17B | $78.62B |
| Total liabilities | $59.92B | $58.31B | $61.12B | $58.35B |
| Shareholders' equity | $20.26B | $20.42B | $21.05B | $20.27B |
| Shares outstanding | 920.0M | 993.0M | 1.07B | 1.14B |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Venmo Credit Card offers up to 4% cash back on split payments from October 15
PayPal's Venmo Credit Card now pays up to 4% cash back on dining and entertainment, with 3% automatic and an extra 1% when the purchase is split with a Venmo friend within 30 days.
PayPal launches PYUSDx developer platform for custom PYUSD-backed stablecoins
PayPal launched PYUSDx on September 9, 2026, a platform that lets businesses and developers issue their own stablecoins on top of PayPal USD (PYUSD).
PayPal cuts 251 San Jose jobs as part of a plan to shed about 20% of staff
PayPal is cutting 251 employees at its San Jose headquarters, according to a government filing, as part of a multi-year restructuring under CEO Enrique Lores.
PayPal president Frank Keller sells 4,612 shares under a 10b5-1 plan
Frank Keller, President of Checkout Solutions & PayPal, sold 4,612 PayPal shares in three trades on September 3, 2026, at weighted average prices of about $54.68 to $56.71.
PayPal chief accounting officer Chris Natali sells 552 shares
Chris Natali, SVP and Chief Accounting Officer at PayPal, sold 552 shares on September 3, 2026, at $54.80 each.
Stripe and Advent abandon pursuit of PayPal after valuation gap
Bloomberg reported that Stripe and Advent had dropped their pursuit of PayPal after the two sides could not agree on the company's value.
US PayPal users can pay QR codes at Weixin Pay merchants across China
PayPal World now lets US PayPal users make in-store QR code payments at Weixin Pay merchants across China, using only the PayPal app.
Venmo becomes a payment option on Google Play
PayPal's Venmo app is now a payment method on Google Play, where users can pay for apps, games, in-app purchases and subscriptions.
PayPal and Amazon launch Pay Later installments in Germany and Austria
PayPal and Amazon launched PayPal Ratenzahlung, an installment credit option, on Amazon.de and in the Amazon app, rolling out from August 2026.
PayPal bought back $1.5B of stock in Q2 and declared a $0.14 dividend
In the second quarter PayPal repurchased about 33 million shares for $1.5 billion.
PayPal board sees Stripe and Advent bid as undervaluing the company
According to Reuters, PayPal's board judged the $60.50 Stripe and Advent proposal too low, citing the premium to recent trading and the potential value of management's turnaround plan.
Stripe and Advent offer $60.50 a share for PayPal, valuing it above $53 billion
Reuters reported that payments company Stripe and buyout firm Advent International made a joint, unsolicited offer of $60.50 per PayPal share.
PayPal Ads publishes Adorama and Best Buy campaign results at Cannes
PayPal Ads released advertiser results from Adorama and Best Buy, arguing that its cross-merchant Transaction Graph and Storefront Ads drive measurable sales growth.
Hey Savi and PayPal launch UK agentic fashion checkout; Debenhams Group joins
Hey Savi launched in the UK with native in-app checkout powered by PayPal's agentic commerce services, letting shoppers search by photo, screenshot or text and buy without leaving the app.
Diego Scotti signs separation agreement; departure effective June 2, 2026
PayPal signed a separation and release agreement with Diego Scotti, EVP and General Manager of the Consumer Group, on May 20, 2026, with his departure effective June 2.
PayPal Q1 2026 EPS of $1.34 beats; Q2 non-GAAP EPS guided down about 9%
PayPal reported first-quarter 2026 revenue of $8.35 billion, up 7%, and non-GAAP EPS of $1.34, up 1%, with total payment volume up 11% to $464.0 billion.
PayPal reorganizes into three businesses, splitting out Venmo and naming new leaders
PayPal reorganized into three operating businesses: Checkout Solutions & PayPal, Consumer Financial Services & Venmo, and Payment Services & Crypto, which holds Braintree, SMB processing, value-added services and PYUSD.
PayPal USD stablecoin expands to 70 markets within PayPal accounts
PayPal said it is making its US dollar stablecoin PYUSD available to users in 70 markets through their PayPal accounts.
Enrique Lores takes over as PayPal CEO on March 1, 2026
Enrique Lores officially started as President and CEO of PayPal on March 1, 2026, ending the interim period led by Jamie Miller.
PayPal Q4 2025 EPS of $1.23 misses Street; 2026 non-GAAP EPS guided to decline
PayPal reported fourth-quarter 2025 net revenues of $8.7 billion, up 4% (3% currency-neutral), and non-GAAP EPS of $1.23, up 3%.
PayPal shares plunge more than 19% after earnings miss, CEO exit and weaker outlook
PayPal shares fell more than 19% on February 3, 2026, their steepest drop in years, after the Q4 miss, the reset 2026 profit outlook and the CEO change.
PayPal removes CEO Alex Chriss and names ex-HP chief Enrique Lores CEO
PayPal's board replaced Alex Chriss as president and CEO, citing a pace of change and execution that was not in line with its expectations.
PayPal powers Microsoft's Copilot Checkout, letting shoppers buy inside Copilot
PayPal became the payment engine behind Copilot Checkout, the shopping flow in Microsoft's Copilot, which launched at Copilot.com.
PayPal reports fiscal Q3 2025 results: revenue $8.42B, up 7% from a year earlier
PayPal filed a Form 8-K with the SEC on Oct 28, 2025, 7:01 AM ET, reporting an event dated Oct 28, 2025.
SEC filings
| Sep 16, 26 | 4 | Form 4: Miller Jamie S (Chief Fin & Op Officer) — option exercise 12,004 sh, tax withholding 6,129 sh | sec.gov ↗ |
| Sep 8, 26 | 4 | Form 4: Natali Chris (SVP, Chief Accounting Officer) — open-market sale 552 sh | sec.gov ↗ |
| Sep 8, 26 | 4 | Form 4: Kereere Suzan (President, Global Markets) — open-market sale 3,379 sh | sec.gov ↗ |
| Sep 8, 26 | 4 | Form 4: Keller Frank (Pres., Checkout Sol. & PayPal) — open-market sale 4,612 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Webster Aaron (EVP, Global Chief Risk Officer) — option exercise 4,602 sh, tax withholding 2,097 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Natali Chris (SVP, Chief Accounting Officer) — option exercise 1,126 sh, tax withholding 390 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Miller Jamie S (Chief Fin & Op Officer) — option exercise 7,414 sh, tax withholding 3,785 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Kereere Suzan (President, Global Markets) — option exercise 6,903 sh, tax withholding 3,524 sh | sec.gov ↗ |
| Sep 3, 26 | 4 | Form 4: Keller Frank (Pres., Checkout Sol. & Paypal) — option exercise 10,321 sh, tax withholding 5,709 sh | sec.gov ↗ |
| Sep 3, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 3, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Sep 3, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 19, 26 | 4 | Form 4: Kereere Suzan (President, Global Markets) — open-market sale 4,162 sh | sec.gov ↗ |
| Aug 18, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Aug 17, 26 | 4 | Form 4: Kereere Suzan (President, Global Markets) — option exercise 8,503 sh, tax withholding 4,341 sh | sec.gov ↗ |
| Jul 30, 26 | 4 | Form 4: Natali Chris (SVP, Chief Accounting Officer) — open-market sale 1,337 sh | sec.gov ↗ |
| Jul 30, 26 | 4 | Form 4: Keller Frank (Pres., Checkout Sol. & PayPal) — open-market sale 732 sh | sec.gov ↗ |
| Jul 29, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Jul 29, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Jul 29, 26 | SCHEDULE 13G/A | SCHEDULE 13G/A: Passive ownership report (5%+) (amended) | sec.gov ↗ |
| Jul 28, 26 | 10-Q | 10-Q: Quarterly report for the period ended Jun 30, 2026 | sec.gov ↗ |
| Jul 28, 26 | 8-K | 8-K: Results of Operations (Item 2.02) | sec.gov ↗ |
| Jul 16, 26 | 4 | Form 4: Webster Aaron (EVP, Global Chief Risk Officer) — option exercise 8,523 sh, tax withholding 3,883 sh | sec.gov ↗ |
| Jul 16, 26 | 4 | Form 4: Natali Chris (SVP, Chief Accounting Officer) — option exercise 2,726 sh, tax withholding 943 sh | sec.gov ↗ |
| Jul 16, 26 | 4 | Form 4: Keller Frank (Pres., Checkout Sol. & PayPal) — option exercise 1,639 sh, tax withholding 907 sh | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-09-03 | Keller Frank Pres., Checkout Sol. & PayPal | Sale 10b5-1 plan | 4.6K | $55.43 | $255.7K |
| 2026-09-03 | Kereere Suzan President, Global Markets | Sale 10b5-1 plan | 3.4K | $55.72 | $188.3K |
| 2026-09-03 | Natali Chris SVP, Chief Accounting Officer | Sale 10b5-1 plan | 552 | $54.80 | $30.2K |
| 2026-08-18 | Kereere Suzan President, Global Markets | Sale 10b5-1 plan | 4.2K | $60.96 | $253.7K |
| 2026-07-29 | Keller Frank Pres., Checkout Sol. & PayPal | Sale 10b5-1 plan | 732 | $58.10 | $42.5K |
| 2026-07-29 | Natali Chris SVP, Chief Accounting Officer | Sale 10b5-1 plan | 1.3K | $58.10 | $77.7K |
| 2026-06-15 | Miller Jamie S Chief Fin & Op Officer | Buy | 6.1K | $41.53 | $254.5K |
| 2026-06-03 | Keller Frank Pres., Checkout Sol. & PayPal | Sale 10b5-1 plan | 4.6K | $42.54 | $196.2K |
| 2026-06-03 | Kereere Suzan President, Global Markets | Sale 10b5-1 plan | 3.4K | $42.79 | $144.6K |
| 2026-06-03 | Natali Chris SVP, Chief Accounting Officer | Sale 10b5-1 plan | 552 | $42.65 | $23.5K |
| 2026-05-19 | Kereere Suzan President, Global Markets | Sale 10b5-1 plan | 4.2K | $44.20 | $183.9K |
| 2026-04-29 | Keller Frank Pres., Checkout Sol. & PayPal | Sale 10b5-1 plan | 10.7K | $49.96 | $536.2K |
| 2026-04-29 | Natali Chris SVP, Chief Accounting Officer | Sale 10b5-1 plan | 1.3K | $49.46 | $66.1K |
| 2026-03-03 | Keller Frank EVP, GM, Large Ent & Mer Plat. | Sale 10b5-1 plan | 29.6K | $46.02 | $1.4M |
| 2026-03-03 | Kereere Suzan President, Global Markets | Sale 10b5-1 plan | 13.5K | $46.02 | $622.0K |
| 2026-03-03 | Natali Chris SVP, Chief Accounting Officer | Sale 10b5-1 plan | 2.2K | $44.73 | $98.8K |
| 2026-02-18 | Kereere Suzan President, Global Markets | Sale 10b5-1 plan | 37.6K | $41.49 | $1.6M |
| 2026-02-17 | Natali Chris SVP, Chief Accounting Officer | Sale 10b5-1 plan | 1.2K | $40.49 | $49.1K |
| 2026-02-06 | Keller Frank EVP, GM, Large Ent & Mer Plat. | Sale 10b5-1 plan | 3.5K | $40.20 | $139.8K |