Jun 2026 (Q2 FY26) — Jul 28, 2026
PayPal Q2 FY26 — Strong Execution and Raised Full-Year Guidance
Read the full callPayPal (PYPL) earnings
- Mar 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
PayPal earnings: last reported Tue, 28 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 8,353 | +7.2% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 17.8 | −1.8 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1,113 | −13.5% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
30 of 31 judged targets kept · 20 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly non-GAAP EPS | decline by high single digits (~9%) | Mar 2026 | declining 1% year-over-year to $1.38 | Achieved |
| Fastlane multiprocessor availability (Adyen, Fiserv, Global Payments) | available through Fiserv, Adyen and Global Payments in 2025 | Sep 2024 | Fastlane unmentioned on the Q4 FY25, Q1 FY26 and Q2 FY26 calls despite the FY25 target lapsing | Ghosted |
| Full-year non-GAAP EPS | down low single digits to slightly positive | Dec 2025 | non-GAAP EPS to increase to $5.38 | Revised Up |
1 of PayPal Holdings, Inc.'s 51 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 48 more targets are in the full ledger.
Claimed
- Revenue increased 5% (spot basis) and transaction margin dollars grew 1% (3% ex-interest on customer balances).
- Non-GAAP EPS exceeded guidance, declining 1% YoY to $1.38.
- Total Payment Volume (TPV) accelerated to 9% currency-neutral growth, reaching $486 billion.
- Venmo and Braintree delivered strong momentum with TPV growing in the mid-teens.
- Generated strong adjusted free cash flow of $1.8 billion.
Qualified
- Non-GAAP EPS declined 1% year-over-year to $1.38.
- Non-GAAP operating income was down 8% to $1.5 billion due to higher nontransaction operating expense and lapping a nonrecurring partner benefit.
- Transaction take rate declined by 7 basis points to 1.61%.
Price
$56.51 −0.34% · −$0.19
Performance −16.2% 1Y
1Y: $67.41 on 17 Oct 2025 → $56.51. High $73.02 (28 Oct 2025), low $39.08 (12 Feb 2026).
- Previous close
- $56.7
- 52-week range
- $39.08 – $73.02
- One year
- −18.34%
Overview
- Symbol
- PYPL
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
30 of 31 judged targets kept · 20 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly non-GAAP EPS | decline by high single digits (~9%) | Mar 2026 | declining 1% year-over-year to $1.38 | Achieved |
| Fastlane multiprocessor availability (Adyen, Fiserv, Global Payments) | available through Fiserv, Adyen and Global Payments in 2025 | Sep 2024 | Fastlane unmentioned on the Q4 FY25, Q1 FY26 and Q2 FY26 calls despite the FY25 target lapsing | Ghosted |
| Full-year non-GAAP EPS | down low single digits to slightly positive | Dec 2025 | non-GAAP EPS to increase to $5.38 | Revised Up |
Claimed
- Revenue increased 5% (spot basis) and transaction margin dollars grew 1% (3% ex-interest on customer balances).
- Non-GAAP EPS exceeded guidance, declining 1% YoY to $1.38.
- Total Payment Volume (TPV) accelerated to 9% currency-neutral growth, reaching $486 billion.
- Venmo and Braintree delivered strong momentum with TPV growing in the mid-teens.
- Generated strong adjusted free cash flow of $1.8 billion.
Qualified
- Non-GAAP EPS declined 1% year-over-year to $1.38.
- Non-GAAP operating income was down 8% to $1.5 billion due to higher nontransaction operating expense and lapping a nonrecurring partner benefit.
- Transaction take rate declined by 7 basis points to 1.61%.
The full ledger
Open PayPal Holdings, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 51 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 5, 2026
PayPal Q1 FY26 – Strategic Realignment and Cost Savings Drive Future Growth
Read the full callDec 2025 (Q4 FY25) — Feb 3, 2026
PayPal Q4 FY25 — CEO Transition and Branded Checkout Challenges Amidst Diversified Growth
Read the full callEvery analysed call
PayPal earnings calls (PYPL)
Financials
What the filings say
Net profit, year on year: −14% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 7,885 | 7,847 | 8,366 | 7,791 | 8,288 | 8,417 | 8,676 | 8,353 |
| Operating profit | 1,325 | 1,391 | 1,441 | 1,530 | 1,504 | 1,520 | 1,511 | 1,488 |
| Operating margin | 16.8% | 17.7% | 17.2% | 19.6% | 18.1% | 18.1% | 17.4% | 17.8% |
| Other income | 74 | -80 | -31 | 73 | 25 | 13 | 116 | -95 |
| Interest | 93 | 106 | 97 | 103 | 114 | 113 | 111 | 111 |
| Net profit | 1,128 | 1,010 | 1,121 | 1,287 | 1,261 | 1,248 | 1,437 | 1,113 |
| EPS ($ per share) | 1.08 | 1 | — | 1.31 | 1.30 | 1.31 | — | 1.22 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 5,880 | 8,342 | 12,366 | 16,535 | 18,954 | 23,200 | 27,347 | 32,470 |
| Total liabilities | 27,946 | 34,404 | 50,316 | 54,076 | 58,350 | 61,115 | 58,308 | 59,917 |
| Fixed assets | 1,724 | 1,693 | 1,807 | 1,909 | 1,730 | 1,488 | 1,508 | 1,700 |
| Investments | 1,534 | 3,412 | 8,289 | 4,303 | 3,092 | 4,979 | 4,262 | 2,373 |
| Total assets | 43,332 | 51,333 | 70,379 | 75,803 | 78,624 | 82,166 | 78,725 | 80,173 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 5,480 | 4,071 | 6,219 | 5,797 | 5,813 | 4,843 | 7,450 | 6,416 |
| Cash from investing | 821 | -5,742 | -16,545 | -5,149 | -3,328 | 752 | 1,689 | 797 |
| Cash from financing | -1,240 | 4,187 | 12,454 | -557 | -1,203 | -2,993 | -8,276 | -5,958 |
| Net cash flow | 4,948 | 2,510 | 2,297 | -11 | 1,127 | 2,678 | 656 | 1,528 |
| Capital expenditure | -823 | -704 | -866 | -908 | -706 | -623 | -683 | -852 |
| Free cash flow | 4,657 | 3,367 | 5,353 | 4,889 | 5,107 | 4,220 | 6,767 | 5,564 |
PYPL revenue by segment
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Reportable | — | — | 100% | 100% | 100% | 100% | 100% | 100% | +4.8% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
PYPL operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Active accounts | 434MTotal active accounts increased by nearly 3 million from the third quarter and nearly 9 million from last year to 434 million.Source: earnings call transcript | 436MTotal active accounts increased by about 1.5 million from the fourth quarter and over 8 million versus the prior year's first quarter to 436 million.Source: earnings call transcript | 438MTotal active accounts increased by nearly 2 million from the first quarter to 438 million.Source: earnings call transcript | — | — | — | +0.5% |
| Payments volume | $438BTotal payment volume grew 7% on a spot and currency-neutral basis to $438 billion.Source: earnings call transcript | $417BTotal payment volume grew 3% at spot and 4% on a currency-neutral basis to $417 billion.Source: earnings call transcript | <$444BTotal payment volume grew 6% at spot and 5% on a currency-neutral basis to nearly $444 billion.Source: earnings call transcript | $475BTotal payment volume in the fourth quarter grew 9% at spot and 6% on a currency-neutral basis to $475 billion.Source: earnings call transcript | $464BTotal payment volume in the first quarter grew 11% at spot and 8% on a currency-neutral basis to $464 billion.Source: earnings call transcript | $486BTotal payment volume was $486 billion, accelerating to 9% currency-neutral growth.Source: earnings call transcript | +4.7% |
| Active accounts Monthly active accounts | — | 224MMonthly active accounts continue to show steady progress, up 2% year-over-year to 224 million, with contributions from PayPal consumer accounts and Venmo.Source: earnings call transcript | 226MMonthly active accounts also continued to show steady progress, up 2% year-over-year to 226 million.Source: earnings call transcript | — | 225MMonthly active accounts increased 1% to $225 million.Source: earnings call transcript | 228MMonthly active accounts increased 1% to $228 million.Source: earnings call transcript | +1.3% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US 58% ↑ 1 pt
- Non Us 42% ↓ 1 pt
As PYPL cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
167 filings between Oct 30, 2025 and Oct 15, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$8.26M
42 sales by 5 insiders
86% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 17
- Award — granted as compensation
- 64
- Option exercise — converted options into shares
- 44
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Kereere Suzan | — | $4.41M | Sep 3, 2026 |
| Keller Frank | — | $2.53M | Sep 3, 2026 |
| Webster Aaron | — | $615.3K | Nov 10, 2025 |
| Natali Chris | — | $440.5K | Sep 3, 2026 |
| Scotti Diego | — | $264.7K | Oct 30, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 15, 2026 | Natali Chris SVP, Chief Accounting Officer | Tax withheld | 1,291 | $72.4K |
| Oct 15, 2026 | Keller Frank Pres., Checkout Sol. & PayPal | Tax withheld | 907 | $50.9K |
| Oct 15, 2026 | Webster Aaron EVP, Global Chief Risk Officer | Option exercise | 5,900 | $0 |
| Oct 15, 2026 | Webster Aaron EVP, Global Chief Risk Officer | Tax withheld | 3,883 | $217.8K |
| Oct 15, 2026 | Webster Aaron EVP, Global Chief Risk Officer | Option exercise | 2,622 | $0 |
| Oct 15, 2026 | Natali Chris SVP, Chief Accounting Officer | Option exercise | 2,727 | $0 |
| Oct 15, 2026 | Keller Frank Pres., Checkout Sol. & PayPal | Option exercise | 1,639 | $0 |
| Sep 15, 2026 | Miller Jamie S Chief Fin & Op Officer | Option exercise | 9,094 | $0 |
| Sep 15, 2026 | Miller Jamie S Chief Fin & Op Officer | Tax withheld | 6,129 | $331.1K |
| Sep 15, 2026 | Miller Jamie S Chief Fin & Op Officer | Option exercise | 2,910 | $0 |
| Sep 3, 2026 | Keller Frank Pres., Checkout Sol. & PayPal | Sale 10b5-1 plan | 1,185 | $67.2K |
| Sep 3, 2026 | Kereere Suzan President, Global Markets | Sale 10b5-1 plan | 1,100 | $60.0K |
| Sep 3, 2026 | Keller Frank Pres., Checkout Sol. & PayPal | Sale 10b5-1 plan | 1,000 | $55.7K |
| Sep 3, 2026 | Kereere Suzan President, Global Markets | Sale 10b5-1 plan | 995 | $55.5K |
| Sep 3, 2026 | Kereere Suzan President, Global Markets | Sale 10b5-1 plan | 1,284 | $72.8K |
| Sep 3, 2026 | Natali Chris SVP, Chief Accounting Officer | Sale 10b5-1 plan | 552 | $30.2K |
| Sep 3, 2026 | Keller Frank Pres., Checkout Sol. & PayPal | Sale 10b5-1 plan | 2,427 | $132.7K |
| Sep 1, 2026 | Natali Chris SVP, Chief Accounting Officer | Option exercise | 1,023 | $0 |
| Sep 1, 2026 | Webster Aaron EVP, Global Chief Risk Officer | Option exercise | 4,602 | $0 |
| Sep 1, 2026 | Kereere Suzan President, Global Markets | Tax withheld | 3,524 | $185.6K |
| Sep 1, 2026 | Kereere Suzan President, Global Markets | Option exercise | 6,903 | $0 |
| Sep 1, 2026 | Natali Chris SVP, Chief Accounting Officer | Option exercise | 103 | $0 |
| Sep 1, 2026 | Keller Frank Pres., Checkout Sol. & Paypal | Tax withheld | 5,709 | $300.7K |
| Sep 1, 2026 | Miller Jamie S Chief Fin & Op Officer | Tax withheld | 3,785 | $199.3K |
| Sep 1, 2026 | Natali Chris SVP, Chief Accounting Officer | Tax withheld | 390 | $20.5K |
| Sep 1, 2026 | Keller Frank Pres., Checkout Sol. & Paypal | Option exercise | 3,418 | $0 |
| Sep 1, 2026 | Webster Aaron EVP, Global Chief Risk Officer | Tax withheld | 2,097 | $110.4K |
| Sep 1, 2026 | Keller Frank Pres., Checkout Sol. & Paypal | Option exercise | 6,903 | $0 |
| Sep 1, 2026 | Miller Jamie S Chief Fin & Op Officer | Option exercise | 7,414 | $0 |
| Aug 18, 2026 | Kereere Suzan President, Global Markets | Sale 10b5-1 plan | 3,362 | $204.6K |
| Aug 18, 2026 | Kereere Suzan President, Global Markets | Sale 10b5-1 plan | 800 | $49.1K |
| Aug 15, 2026 | Kereere Suzan President, Global Markets | Tax withheld | 4,341 | $267.7K |
| Aug 15, 2026 | Kereere Suzan President, Global Markets | Option exercise | 8,503 | $0 |
| Jul 29, 2026 | Keller Frank Pres., Checkout Sol. & PayPal | Sale 10b5-1 plan | 732 | $42.5K |
| Jul 29, 2026 | Natali Chris SVP, Chief Accounting Officer | Sale 10b5-1 plan | 1,337 | $77.7K |
| Jul 15, 2026 | Keller Frank Pres., Checkout Sol. & PayPal | Option exercise | 1,639 | $0 |
| Jul 15, 2026 | Webster Aaron EVP, Global Chief Risk Officer | Option exercise | 5,901 | $0 |
| Jul 15, 2026 | Keller Frank Pres., Checkout Sol. & PayPal | Tax withheld | 907 | $43.0K |
| Jul 15, 2026 | Natali Chris SVP, Chief Accounting Officer | Tax withheld | 943 | $44.7K |
| Jul 15, 2026 | Natali Chris SVP, Chief Accounting Officer | Option exercise | 2,726 | $0 |
| Jul 15, 2026 | Webster Aaron EVP, Global Chief Risk Officer | Tax withheld | 3,883 | $183.9K |
| Jul 15, 2026 | Webster Aaron EVP, Global Chief Risk Officer | Option exercise | 2,622 | $0 |
| Jun 15, 2026 | Miller Jamie S Chief Fin & Op Officer | Option exercise | 2,910 | $0 |
| Jun 15, 2026 | Miller Jamie S Chief Fin & Op Officer | Tax withheld | 6,129 | $254.5K |
| Jun 15, 2026 | Miller Jamie S Chief Fin & Op Officer | Option exercise | 9,094 | $0 |
| Jun 3, 2026 | Kereere Suzan President, Global Markets | Sale 10b5-1 plan | 3,379 | $144.6K |
| Jun 3, 2026 | Natali Chris SVP, Chief Accounting Officer | Sale 10b5-1 plan | 552 | $23.5K |
| Jun 3, 2026 | Keller Frank Pres., Checkout Sol. & PayPal | Sale 10b5-1 plan | 4,612 | $196.2K |
| Jun 1, 2026 | Keller Frank Pres., Checkout Sol. & PayPal | Tax withheld | 5,709 | $255.5K |
| Jun 1, 2026 | Natali Chris SVP, Chief Accounting Officer | Tax withheld | 390 | $17.5K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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