Filing Flows › PayPal Holdings (PYPL) › Q2 2026 › vs Q2 2025
PayPal Holdings (PYPL) Q2 2026 vs Q2 2025 (year over year)
PayPal Holdings's revenue rose $394M (+5%) from $8.3B in Q2 2025 to $8.7B in Q2 2026. The biggest changes: Transaction revenues +$391M (+5%); Revenues from other value added services +$3.0M (+0.4%). Operating margin 16.4% against 18.1% (-1.7 pts).
PayPal Holdings, Q2 2026: revenue $8.7B (+5% year over year), operating margin 16.4%, net earnings $1.1B, operating cash flow $2.0B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 16.4% | 18.1% | -1.7 pts |
| Net margin | 12.7% | 15.2% | -2.5 pts |
| Free cash flow margin | 20.4% | 8.3% | +12.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Transaction revenues | $7.8B | $7.4B | $391M | +5% |
| Revenues from other value added services | $850M | $847M | $3.0M | +0.4% |
| Revenue | $8.7B | $8.3B | $394M | +5% |
| Operating profit | $1.4B | $1.5B | −$77.0M | -5% |
| Costs & expenses | $7.3B | $6.8B | $471M | +7% |
| Pre-tax earnings | $1.3B | $1.5B | −$219M | -14% |
| Other expense, net | $117M | −$25.0M | $142M | — |
| Sales & marketing | $546M | $583M | −$37.0M | -6% |
| General & admin | $503M | $461M | $42.0M | +9% |
| Other operating costs | $6.2B | $5.7B | $466M | +8% |
| Net earnings | $1.1B | $1.3B | −$157M | -12% |
| Income tax | $206M | $268M | −$62.0M | -23% |
| Depreciation & amortization | $246M | $239M | $7.0M | +3% |
| Share-based compensation | $275M | $286M | −$11.0M | -4% |
| Working capital & other | $358M | −$888M | $1.2B | — |
| Operating cash flow | $2.0B | $898M | $1.1B | +121% |
| Free cash flow (company-reported) | $1.8B | $692M | $1.1B | +157% |
| Purchases of property and equipment | $208M | $206M | $2.0M | +1% |
Questions
How much did PayPal Holdings's revenue grow year over year in Q2 2026?
PayPal Holdings's revenue rose $394M (+5%) from $8.3B in Q2 2025 to $8.7B in Q2 2026.
What drove PayPal Holdings's revenue change in Q2 2026?
Transaction revenues +$391M (+5%); Revenues from other value added services +$3.0M (+0.4%).