PayPal Holdings, Inc. (PYPL) Research

Forward Estimates

EPS Estimates

Current Qtr

$1.28

$1.25$1.49

vs $1.40-8.4%

35 analysts

Next Qtr

$1.33

$1.25$1.48

vs $1.34-0.6%

33 analysts

Current Yr

$5.31

$5.17$5.53

vs $5.31-0.1%

42 analysts

Next Yr

$5.76

$5.27$6.08

vs $5.31+8.5%

42 analysts

Revenue Estimates

Current Qtr

$8.47B

$8.29B$8.65B

vs $8.29B+2.1%

34 analysts

Next Qtr

$8.62B

$8.46B$8.84B

vs $8.42B+2.4%

33 analysts

Current Yr

$34.33B

$33.84B$35.26B

vs $33.17B+3.5%

41 analysts

Next Yr

$35.79B

$34.71B$37.98B

vs $34.33B+4.3%

43 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for PYPL on EDGAR.

PYPL filing events and research context
Filed	Item	Context
May 5, 2026	mda_quarterly	Net revenues for the first quarter of 2026 increased 7% to $8.35 billion, driven by an 11% rise in total payment volume (TPV) to $463.9 billion and growth from a partner institution. Despite this, net income declined 14% to $1.11 billion and operating margins contracted to 18%, primarily due to a 12% increase in transaction expenses fueled by a higher proportion of Braintree TPV. Active accounts grew marginally to 439 million. To drive efficiency, PayPal launched a strategic reorganization targeting at least $1.5 billion in gross annualized run-rate savings via AI and automation, complementing a cloud migration initiative expected to save $280 million annually. The merchant loan portfolio grew 18% to $1.9 billion, supported by PayPal Business Loans in the U.S. and Working Capital in Germany, though the net charge-off rate climbed to 7.0%. Key risks include macroeconomic volatility from tariffs and inflation, as well as heightened global regulatory scrutiny of AML and cybersecurity. Capital return activities included $1.5 billion in stock repurchases and a $0.14 per share dividend. International exposure remains significant, with 42% of net revenues generated outside the U.S.
Feb 3, 2026	mda	PayPal’s 2025 net revenues increased 4% to $33.2 billion, while net income grew 26% to $5.2 billion, driven by a 7% increase in total payment volume (TPV) to $1.79 trillion. Operating margin expanded to 18% as the company prioritized profitable growth, particularly within Braintree, where TPV rose despite a decline in transaction volume. Revenue from other value-added services grew 14%, bolstered by interest and fee income from loans receivable. However, transaction and credit losses rose 19% due to fraud incidents within PayPal products. To optimize costs, management initiated the 2Q 2025 Plan to reengineer technology infrastructure, targeting $280 million in annualized savings. Sales and marketing expenses increased 14% to support the "PayPal Everywhere" and "Venmo Everything" campaigns. PayPal faces ongoing risks from global regulatory scrutiny regarding anti-money laundering and privacy, as well as macroeconomic pressures from inflation and tariffs. With 43% of net revenues generated outside the U.S., the company remains exposed to foreign exchange volatility. Liquidity is supported by $12.8 billion in cash and investments. Capital return activities included $6 billion in stock repurchases and the initiation of a $0.14 per share quarterly cash dividend in October 2025.
Feb 3, 2026	risk_factors	PayPal is exposed to macroeconomic volatility driven by inflation, tariffs, and fluctuating interest rates, which may reduce consumer spending and increase insolvency among merchants and consumers. The company faces significant foreign exchange risk, as approximately 43% of net revenues are generated outside the U.S., primarily in the Euro, British pound, Australian dollar, Canadian dollar, and Indian rupee markets. Credit risk is concentrated in its consumer and merchant loan portfolios, specifically PayPal Business Loans (PPBL) and PayPal Working Capital (PPWC), where losses are sensitive to unemployment rates and retail e-commerce trends. Additionally, the company must manage transaction losses stemming from fraud, chargebacks, and customer protection programs. To mitigate operational inefficiencies and reduce network latency, PayPal is executing the 2Q 2025 Plan, a multi-year initiative to migrate technology infrastructure to cloud-based solutions and optimize its workforce. Cybersecurity vulnerabilities and evolving international regulatory requirements further pose risks to the company's reputation and financial stability. These factors, combined with the inherent uncertainty of estimating current expected credit losses, could materially impact future operating results.

Filed

Item

Context

May 5, 2026

mda_quarterly

Net revenues for the first quarter of 2026 increased 7% to $8.35 billion, driven by an 11% rise in total payment volume (TPV) to $463.9 billion and growth from a partner institution. Despite this, net income declined 14% to $1.11 billion and operating margins contracted to 18%, primarily due to a 12% increase in transaction expenses fueled by a higher proportion of Braintree TPV. Active accounts grew marginally to 439 million. To drive efficiency, PayPal launched a strategic reorganization targeting at least $1.5 billion in gross annualized run-rate savings via AI and automation, complementing a cloud migration initiative expected to save $280 million annually. The merchant loan portfolio grew 18% to $1.9 billion, supported by PayPal Business Loans in the U.S. and Working Capital in Germany, though the net charge-off rate climbed to 7.0%. Key risks include macroeconomic volatility from tariffs and inflation, as well as heightened global regulatory scrutiny of AML and cybersecurity. Capital return activities included $1.5 billion in stock repurchases and a $0.14 per share dividend. International exposure remains significant, with 42% of net revenues generated outside the U.S.

Feb 3, 2026

mda

PayPal’s 2025 net revenues increased 4% to $33.2 billion, while net income grew 26% to $5.2 billion, driven by a 7% increase in total payment volume (TPV) to $1.79 trillion. Operating margin expanded to 18% as the company prioritized profitable growth, particularly within Braintree, where TPV rose despite a decline in transaction volume. Revenue from other value-added services grew 14%, bolstered by interest and fee income from loans receivable. However, transaction and credit losses rose 19% due to fraud incidents within PayPal products. To optimize costs, management initiated the 2Q 2025 Plan to reengineer technology infrastructure, targeting $280 million in annualized savings. Sales and marketing expenses increased 14% to support the "PayPal Everywhere" and "Venmo Everything" campaigns. PayPal faces ongoing risks from global regulatory scrutiny regarding anti-money laundering and privacy, as well as macroeconomic pressures from inflation and tariffs. With 43% of net revenues generated outside the U.S., the company remains exposed to foreign exchange volatility. Liquidity is supported by $12.8 billion in cash and investments. Capital return activities included $6 billion in stock repurchases and the initiation of a $0.14 per share quarterly cash dividend in October 2025.

Feb 3, 2026

risk_factors

PayPal is exposed to macroeconomic volatility driven by inflation, tariffs, and fluctuating interest rates, which may reduce consumer spending and increase insolvency among merchants and consumers. The company faces significant foreign exchange risk, as approximately 43% of net revenues are generated outside the U.S., primarily in the Euro, British pound, Australian dollar, Canadian dollar, and Indian rupee markets. Credit risk is concentrated in its consumer and merchant loan portfolios, specifically PayPal Business Loans (PPBL) and PayPal Working Capital (PPWC), where losses are sensitive to unemployment rates and retail e-commerce trends. Additionally, the company must manage transaction losses stemming from fraud, chargebacks, and customer protection programs. To mitigate operational inefficiencies and reduce network latency, PayPal is executing the 2Q 2025 Plan, a multi-year initiative to migrate technology infrastructure to cloud-based solutions and optimize its workforce. Cybersecurity vulnerabilities and evolving international regulatory requirements further pose risks to the company's reputation and financial stability. These factors, combined with the inherent uncertainty of estimating current expected credit losses, could materially impact future operating results.

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PYPL filing events and research context

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