PayPal (PYPL) Q3 2025 10-Q Quarterly Report
Filed: Oct 28, 2025Period ending Sep 30, 2025
Information Technology
Services-Business Services, NECSEC EDGAR PayPal (PYPL) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 28, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
PayPal Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $8.42B Q3 2025, up 7% YoY ($7.85B Q3 2024); 9-month revenue $24.50B, up 5% YoY ($23.43B)
- • Operating margin stable at 18% Q3 (vs 18% YoY); 19% vs 17% in 9 months ended Sept. 2025 vs 2024
- • Best segment: PayPal and Venmo transaction revenues up $390M Q3; Worst: Braintree revenue down $140M in 9 months
- • Operating cash flow $1.97B Q3, increase vs $1.61B YoY; 9-month operating cash flow declined to $4.03B from $5.06B, investing inflows increased
- • Near-term: Q2 2025 Plan underway for tech and workforce restructuring; expects ~$280M annualized cost savings, ongoing Braintree growth in Q4 2025
Risk Factors
- • New risk: August 2025 Germany service disruption due to coding error causing fraud losses, regulatory scrutiny, fines, and litigation risk
- • Updated regulatory risk: PYUSD stablecoin regulatory framework evolving with uncertain costs and compliance under new U.S. federal law enacted in 2023
- • Most impactful legal risk: Extensive multi-jurisdictional government investigations and lawsuits over consumer protection, anti-money laundering, and other laws increasing uncertainty and potential fines
- • Operational risk: Dependence on third-party custodians and service providers exposes PayPal to operational disruptions, cybersecurity failures, and reputational damage
- • Financial risk: Increasing regulatory liquidity and capital requirements amid global economic volatility may strain liquidity and increase currency exchange rate exposure
PayPal Q3 2025 Quarterly FinancialsXBRL
Revenue
$8.4B
▲ +7.3% YoY▲ +1.6% QoQ
Net Income
$1.2B
▲ +23.6% YoY▼ -1.0% QoQ
Operating Margin
18.1%
▲ +33bp YoY▼ -9bp QoQ
Net Margin
14.8%
▲ +196bp YoY▼ -39bp QoQ
ROE
6.2%
Total Assets
$79.8B
EPS (Diluted)
$1.30
▲ +31.3% YoY▲ +0.8% QoQ
Operating Cash Flow
$2.0B
▲ +22.3% YoY▲ +119.8% QoQ
Source: XBRL data from PayPal Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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