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Earnings Calls

Last Earnings Call

Fiscal Period
Q2 2026
Call Date
Jul 28, 2026
AI Summary
Q2 2026

Beat and raise: PayPal said second-quarter results came in above expectations, with revenue up 5%, transaction margin dollars up 1% and non-GAAP EPS of $1.38, then raised full-year guidance for transaction margin dollars and EPS.

Core trends: Branded checkout stabilized at 2% currency-neutral growth for a second straight quarter, while Venmo and Braintree kept growing in the mid-teens and BNPL accelerated to 26% growth.

Margins and spending: Management said growth investments and higher operating expense weighed on quarterly profit, but those investments are being made ahead of savings that should show up more meaningfully in the fourth quarter.

Strategic shift: The company is leaning harder into financial services, Venmo, and Braintree, while trying to build a more personalized consumer experience and a more unified merchant platform.

Cost plan: PayPal remains on track to deliver at least $1.5 billion of gross run-rate savings over 2 to 3 years, including about $400 million of new gross savings by year-end.

Deal talk: Management declined to comment on M&A speculation, but said it will objectively evaluate any opportunity against its own plan and continue focusing on execution.

Key Financials
Revenue
$7.8 billion
Non-GAAP EPS
$1.38
Transaction margin dollars
$15.6 billion
Total payment volume
$486 billion
Monthly active accounts
228 million
Transactions per active account
7%
Branded Experiences TPV growth
6%
Venmo TPV growth
14%
Pay with Venmo growth
44%
BNPL growth
26%
PSP volume growth
13%
Transaction take rate
1.61%
Transaction expense
90 basis points
Transaction loss
7 basis points
Adjusted free cash flow
$1.8 billion
Share repurchases
$1.5 billion
Cash, cash equivalents and investments
$15.3 billion
Debt
$13.4 billion
Cost savings
at least $1.5 billion
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