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PYPL · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Revenue grew 4.8% y/y to $8.68B, operating margin 16.4% vs 18.1%, net income $1.10B (−12.5% y/y).
Net income (loss)
$1,104M
down 12.5% y/y
Net revenues
$8,682M
up 4.8% y/y
Operating income
$1,427M
down 5.1% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net revenues | $8,682 · +4.8% |
| Transaction expense | $4,385 · +10.5% |
| Transaction and credit losses | $397 · −16.6% |
| Customer support and operations | $462 · +11.9% |
| Sales and marketing | $546 · −6.3% |
| Technology and development | $849 · +10.7% |
| General and administrative | $503 · +9.1% |
| Restructuring and other | $113 · −2.6% |
| Operating income | $1,427 · −5.1% · 16.4% margin |
| Other income (expense), net | $117 · vs $25 |
| Income before income taxes | $1,310 · −14.3% |
| Income tax expense | $206 · −23.1% · 15.7% effective rate |
| Net income (loss) | $1,104 · −12.5% · $1.25/sh · 12.7% margin |
Verdict: revenue grew 4.8% y/y to $8.68B, operating margin 16.4% vs 18.1%, net income $1.10B (−12.5% y/y).
Cash flow from operations was $2.0 billion and free cash flow was $1.8 billion.
Source and notation
Source: PayPal press release, 8-K EX-99.1 of 07/28/2026 (SEC EDGAR). Every figure was matched against the income statement in the release and checked against SEC XBRL.
Open as an image: PYPL, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “PYPL Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/pypl/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/pypl/q2-2026"><img src="https://whoreportstoday.com/t/pypl/q2-2026/sankey.png" alt="PYPL Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/pypl/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/pypl/q2-2026">PYPL Q2 2026 earnings chart (Who Reports Today)</a>
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- Total payment volume rose 10% to $486.4 billion, and active accounts reached 439 million.
- Operating income was $1.43B, a 16.4% margin vs 18.1% a year earlier.
- The effective tax rate was 15.7% vs 17.5% a year earlier.
- Diluted EPS was $1.25 vs $1.29 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
PYPL — a digital payments company running a two-sided network of consumers and merchants: people use PayPal and Venmo wallets to pay online and in stores, send money and manage finances, while businesses get checkout, payment processing and other services.
It earns mainly from transaction fees, plus credit and other value-added services, and reports a single segment. · Source: annual report (Form 10-K, SEC)
Heads-up
- net income fell 13% y/y in Q2 2026
Net income for Q2 2026: $1,104M, −13% y/y. In the report's figures: costs grew faster than revenue: transaction expense +11% y/y, technology and development +11% y/y, customer support and operations +12% y/y. Based on the Q2 2026 report.
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