PayPal

NASDAQ: PYPL

Revenue

$34.13B

+5.7% YoY

Gross margin

45.8%

−116 bps YoY

Total payment volume

$1.9T

Free Cash Flow to Firm

$4.84B

Last twelve months to June 30, 2026

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Business overview

Company overview

PayPal connects consumers and merchants through a global payments network.

How PayPal makes money

PayPal earns revenue primarily from fees for payment transactions and other payment services, typically based on activity processed on its platform.

Bull case

In 2025, PayPal processed $1.79 trillion of total payment volume, up 7% from 2024.

Bear case

PayPal operates in a highly competitive payments industry subject to regulatory scrutiny.