Overview
- Enrique Lores becomes CEO on March 1, with CFO/COO Jamie Miller serving as interim chief and David W. Dorman appointed independent board chair effective immediately.
- Fourth‑quarter results missed estimates at $1.23 adjusted EPS on $8.68 billion in revenue, and the company guided to lower profit for the first quarter and a mid‑single‑digit decline for full‑year 2026 EPS.
- Branded checkout growth slowed to about 1% in Q4, a notable deceleration in a business PayPal says generates roughly half of its profits.
- Executives cited weakness in U.S. retail, international pressures—particularly in Germany—and operational and deployment shortcomings alongside intensifying competition.
- Shares fell roughly 17%–19%, the steepest intraday drop in more than four years, while HP named Bruce Broussard interim CEO as reporting indicated its board was surprised by Lores’s exit.