PayPal Surges as Stripe and Advent Bid Tops $53 Billion
PayPal reported a solid set of second-quarter 2026 numbers, beating analyst estimates on both earnings and revenue. The company's non-GAAP earnings per share came in at $1.38, exceeding the consensus estimate of $1.28 by a significant margin. Net revenue landed at $8.682 billion, up 5% year-over-year, while total payment volume climbed 10% to $486.4 billion for the quarter.
The company repurchased $1.5 billion in shares during the quarter, which tends to have a positive impact on share prices when combined with raising full-year non-GAAP guidance.
However, the real story is the proposed takeover bid from Stripe and private equity firm Advent International, which values PayPal at over $53 billion. The joint proposal of $60.50 per share in cash was made on July 14-15, 2026, causing PayPal's shares to surge nearly 17%.
The fate of PayPal's crypto play, including its PYUSD stablecoin and blockchain integration with Polygon, is now uncertain if the takeover bid materializes. Stripe has its own crypto ambitions and recently re-enabled crypto payments after years away from the space.