Filing Flows › PayPal Holdings (PYPL) › Q3 2025
PayPal Holdings (PYPL) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
PayPal Holdings (PYPL) reported revenue of $8.4B for the third quarter 2025 (Q3 2025), +7% from a year earlier and +2% from the quarter before. Operating margin was 18.1%, net earnings $1.2B (14.8% of revenue).
PayPal Holdings, Q3 2025: revenue $8.4B (+7% year over year), operating margin 18.1%, net earnings $1.2B, operating cash flow $2.0B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.4B | +2% | +7% |
| Operating profit | $1.5B | +1% | +9% |
| Net earnings | $1.2B | -1% | +24% |
| Operating cash flow | $2.0B | +120% | +22% |
| Free cash flow | $1.7B | — | +19% |
What changed
Revenue was $8.4B in Q3 2025, up 7% year over year and up 2% from the previous quarter. Transaction revenues was the largest line at 89% of revenue. Transaction revenues added $0.46B year over year (up 6%), 80% of the total change.
Operating profit was $1.5B, a 18.1% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 23% reached operating profit, above the 18% margin then. Total costs grew 7% against revenue growth of 7%. Net earnings were $1.2B, up 24% year over year. The effective tax rate was 18.6%.
Operating cash flow was $2.0B (up 22% year over year), 158% of net earnings. Non-cash charges added back $0.24B of depreciation and amortization and $0.26B of share-based compensation. Working capital and other items added $0.22B. After purchases of property and equipment ($0.26B), free cash flow as the company reports it was $1.7B.
Questions
What was PayPal Holdings' revenue in the third quarter 2025?
PayPal Holdings (PYPL) reported revenue of $8.4B for the third quarter 2025 (Q3 2025), +7% from a year earlier and +2% from the quarter before.
Was PayPal Holdings profitable in the third quarter 2025?
Operating profit was $1.5B (18.1% of revenue) and net earnings $1.2B.
Source: PayPal Holdings 10-Q on SEC EDGAR.