Short answer
PayPal (PYPL) filed its Q3 2025 10-Q quarterly report on Oct 28, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $8.4B (up 7.3% year over year) with net income of $1.2B.
Q3 2025 key financials · XBRL
- Revenue
- $8.4B
- +7.3% YoY · +1.6% QoQ
- Net income
- $1.2B
- +23.6% YoY · −1.0% QoQ
- Operating margin
- 18.1%
- EPS (diluted)
- $1.30
- +31.3% YoY · +0.8% QoQ
Source: XBRL data from the PayPal (PYPL) Q3 2025 10-Q on SEC EDGAR. USD.
PayPal Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
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
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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