PayPal Beats Earnings, Faces Multi-Billion-Dollar Takeover Bid

PayPal's second-quarter earnings report exceeded expectations, with non-GAAP earnings per share reaching $1.38 and net revenue rising 5% year-over-year to $8.682 billion. The company also repurchased $1.5 billion in shares during the quarter.

The key figures: total payment volume climbed 10% to $486.4 billion for the quarter, a significant increase from last year's numbers. PayPal has raised its full-year non-GAAP guidance following this solid performance.

Beyond the numbers, a more substantial development is unfolding. On July 14 and 15, 2026, Stripe and private equity firm Advent International jointly proposed a takeover of PayPal at $60.50 per share in cash, valuing the company at over $53 billion. This bid has already pushed PayPal's shares up nearly 17%.

The fate of PayPal's crypto play is an open question amidst this merger situation. The PYUSD stablecoin has expanded to roughly 70 markets as of March 2026 and carries a rewards rate of around 4%. If the takeover materializes, it remains unclear what will happen to PYUSD, especially given Stripe's own crypto ambitions.