Overview

• Adjusted EPS reached $1.40 in Q2 2025, up from $1.19 a year earlier and above analysts’ expectations of $1.30.
• Net revenue grew 5% year-over-year to $8.3 billion as PayPal shifted toward higher-margin offerings.
• Transaction margin dollars rose 7% to $3.8 billion and adjusted operating margin expanded by 132 basis points to 19.8%.
• Total payment volume climbed 6% to $443.5 billion with Venmo revenue up 20% and its TPV growth at a three-year high.
• PayPal raised its full-year EPS outlook to $5.15–$5.30 and projects free cash flow of $6 billion to $7 billion, reflecting its profit-first strategy under CEO Alex Chriss.