PayPal Holdings reported second-quarter 2026 revenue of $8.68 billion on 28 July 2026, with an $81 million earnings adjustment attributed to crypto assets [Brief - 2026-07-29]. The company noted expansion of its stablecoin offerings and integration of AI-driven payment tools during the period. Separately, a mid-July 2026 report indicated that payments technology firm Stripe submitted a bid to acquire PayPal, a development that contributed to elevated news coverage of the company [Brief - 2026-07-15]. Market conditions during this period were also shaped by US-Iran military escalation centred on the Strait of Hormuz, which generated broader volatility across global equities [Brief - 2026-07-17].
As of 31 March 2026, PayPal recorded trailing twelve-month revenue of $33.73 billion, representing year-over-year growth of 7.21%. Net income on a TTM basis stood at $5.06 billion, with a net margin of 15.00% and an operating margin of 17.85%. EPS on a year-over-year basis declined 6.20%. The company held $6.98 billion in cash against total debt of $10.88 billion. The price-to-earnings ratio was recorded at 11.57, with market capitalisation at approximately $55.0 billion at the time of reporting [SEC 10-Q - PYPL - 2026-03-31].
Insider activity in August 2026 comprised two transactions, both in the direction of selling, with a combined net value of approximately -$120,209 [SEC Form 4 - PYPL - 2026-08]. On the institutional side, five notable funds opened new positions in PYPL during the most recent 13F reporting period: Citadel (Ken Griffin), AQR Capital (Cliff Asness), Millennium (Izzy Englander), Coatue (Philippe Laffont), and Bridgewater (Ray Dalio) each initiated positions, representing the primary trigger for this report [SEC 13F - Citadel - Q2 2026] [SEC 13F - AQR Capital - Q2 2026] [SEC 13F - Millennium - Q2 2026] [SEC 13F - Coatue - Q2 2026] [SEC 13F - Bridgewater - Q2 2026].
The prevailing US Treasury yield environment as of the report date shows the 10-year yield at 4.63% and the 2-year yield at 4.15%, producing a normal yield curve with a spread of 48 basis points [FRED DGS10] [FRED DGS2]. This rate configuration represents the broader fixed-income backdrop against which PayPal's debt position of $10.88 billion and cash holdings of $6.98 billion are situated.