PYPL Q1 2025 Earnings
Reported Apr 29, 2025 at 7:01 AM ET · SEC Source
Q1 25 EPS
$1.33
BEAT +14.53%
Est. $1.16
Q1 25 Revenue
$7.79B
MISS 0.64%
Est. $7.84B
vs S&P Since Q1 25
-53.1%
TRAILING MARKET
PYPL -23.1% vs S&P +30.0%
Market Reaction
Did PYPL Beat Earnings? Q1 2025 Results
PayPal delivered a sharply mixed first quarter, posting earnings that cleared the bar by a wide margin while revenue came in fractionally light, setting up a nuanced conversation for investors. Adjusted EPS of $1.33 beat the $1.16 consensus estimate … Read more PayPal delivered a sharply mixed first quarter, posting earnings that cleared the bar by a wide margin while revenue came in fractionally light, setting up a nuanced conversation for investors. Adjusted EPS of $1.33 beat the $1.16 consensus estimate by 14.53%, driven by a 31% year-over-year surge in GAAP operating income to $1.53 billion and a 447-basis-point expansion in operating margin to 19.6%, as improved payment processing economics pushed the transaction margin rate to 47.7% from 45.0% a year ago. Revenue of $7.79 billion grew 1.2% year-over-year but missed the $7.84 billion consensus by 0.64%, reflecting modest top-line momentum as total payment volume rose 3% to $417.21 billion and active accounts climbed 2% to 436 million. CEO Alex Chriss framed the quarter as the company's fifth consecutive period of profitable growth, though PayPal left its full-year non-GAAP EPS guidance unchanged at $4.95 to $5.10, citing global macroeconomic uncertainty, with Q2 non-GAAP EPS guided to $1.29 to $1.31.
Key Takeaways
- • Fifth consecutive quarter of profitable growth
- • Transaction margin dollars grew 7% YoY to $3.7 billion
- • GAAP operating margin expanded 447 basis points to 19.6%
- • Non-GAAP operating margin expanded 257 basis points to 20.7%
- • Transaction expense rate improved to 0.89% from 0.97% a year ago
- • Restructuring charges declined significantly from $175M to $39M YoY
- • Active accounts grew 2% to 436 million
- • Payment transactions ex-PSP grew 6%
PYPL YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
PYPL Revenue by Segment
With YoY comparisons, source: SEC Filings
PYPL Revenue by Geography
With YoY comparisons, source: SEC Filings
“PayPal had a great start to the year and our strategy is working. This is our fifth consecutive quarter of profitable growth with progress across branded checkout, PSP, omnichannel, and Venmo.”
— Alex Chriss, Q1 2025 Earnings Press Release
PYPL Earnings Trends
PYPL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PYPL EPS Trend
Earnings per share: estimate vs actual
PYPL Revenue Trend
Quarterly revenue: estimate vs actual
PYPL Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 MISS FY | $1.29 | $1.23 | -4.65% | $8.68B | -1.16% |
| FY Full Year | $5.36 | $5.31 | -0.91% | $33.17B | -0.31% |
| Q3 25 BEAT | $1.20 | $1.34 | +11.25% | $8.42B | +2.21% |
| Q2 25 BEAT | $1.30 | $1.40 | +8.00% | $8.29B | +2.57% |
| Q1 25 BEAT | $1.16 | $1.33 | +14.53% | $7.79B | -0.64% |