Companies · PYPL
PayPal
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Latest analysis
Updated Jul 28, 2026
PayPal raises FY2026 TM$ and EPS guidance as Venmo and Braintree accelerate; agentic payments and financial services expansion define the multiyear growth thesis.
PayPal delivered Q2 2026 above guidance on transaction margin dollars and non-GAAP EPS, with TPV accelerating to 9% currency-neutral growth driven by Braintree and Venmo both growing mid-teens and branded checkout stabilizing at 2% for a second consecutive quarter. Management raised full-year TM$ guidance to approximately $15.6 billion and non-GAAP EPS to $5.38, while increasing nontransaction OpEx expectations to fund platform modernization, risk capabilities, and financial services expansion. The strategic pivot is now explicit: financial services — BNPL, credit, and lending partnerships — is targeted to grow at least twice the company rate and is positioned as the primary long-term transaction margin driver, with agentic payments and digital identity named as the post-2028 growth layer.
Tone: bullishRevenue
$33.2B
PYPL 10-K · FY 2025
Employees
23,800
Revenue growth YoY
+4%
Founded
1998
Profile
PYPL 10-K Item 1 · Feb 3, 2026PayPal Holdings, Inc. operates a global two-sided digital payments network connecting 439 million active accounts across approximately 200 markets. The company provides consumers with digital wallets, buy now pay later solutions, P2P transfers, and credit products, while offering merchants branded and unbranded checkout, fraud prevention, payouts, and business financing. Revenue is earned primarily through transaction fees based on payment volume.
Read filing description ↓ Collapse description ↑
At PayPal Holdings, Inc., our mission is to revolutionize commerce globally. Our products are designed to enable digital payments and simplify commerce experiences for consumers and merchants to make selling, shopping, and sending and receiving money simple, personalized, and secure, whether online or in-person. We operate a global, two-sided network at scale that connects consumers and merchants with 439 million active accounts across approximately 200 markets as of December 31, 2025. Consumers: We provide consumers with digital wallets and other solutions that allow them to shop and pay with PayPal and Venmo—both online and in-person—manage their finances (including saving and buying and selling cryptocurrencies), and send and receive money between friends and family. When shopping, we offer consumers flexibility in how they pay, which may include a bank account, a PayPal or Venmo account balance, PayPal-branded consumer credit and debit products, other credit and debit cards, certain cryptocurrencies, or other stored value products such as gift cards, and eligible rewards. Merchants: We help merchants connect with customers, increase conversion rates and sales, and grow their businesses in the markets where our services are available. We provide large enterprises and small and medium businesses with online branded checkout solutions, including PayPal and Venmo; online unbranded payments processing; PayPal buy now, pay later solutions; in-person point of sale solutions; business financing; payouts capabilities; and risk tools. We earn revenues primarily by charging fees for completing payment transactions for our customers and other payment-related services, which are typically based on the volume of activity processed on our payments platform.
Primary products
- PayPal digital wallet
- Venmo digital wallet
- Xoom international money transfer
- PayPal Buy Now, Pay Later (BNPL)
- Paidy consumer installment products
- PayPal Working Capital (PPWC)
End markets
Geographies
Named customers
“We differentiate ourselves to consumers through our broad acceptance and the ability to use our products and services across multiple commerce channels, including e-commerce, mobile, and offline payments, and without sharing their financial information with the merchant or any other party they are paying; our customer service, dispute resolution, and purchase protection programs; and our ability to simplify and personalize shopping experiences.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Net revenues increased $1.4 billion, or 4%, in 2025 compared to 2024, driven primarily by growth in total payment volume of 7% and an increase in interest and fee revenue earned on the loans receivable portfolio, partially offset by the unfavorable impact of hedging activities.
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