PayPal Q2 earnings beat estimates with $1.38 EPS and $8.68B revenue as PYUSD expansion accelerates

PayPal just delivered the kind of quarter that makes analysts look conservative. The company reported adjusted earnings per share of $1.38 for Q2 2026, comfortably clearing the $1.28 consensus estimate. Revenue landed at roughly $8.68 billion, also topping the forecasted $8.5 billion. The numbers behind the beat The Q2 results build on momentum that was already visible earlier this year. In Q1 2026, PayPal posted net revenues of $8.4 billion, representing a 7% increase year-over-year. Total payment volume for that quarter reached $464 billion, growing 11% compared to the same period a year earlier. The company also reported 439 million active accounts as of Q1. The earnings call was held on July 28. PYUSD is no longer a side project PYUSD, the company’s dollar-pegged stablecoin launched in partnership with Paxos back in 2023, has expanded to 70 markets worldwide as of March 2026. PYUSD is designed to be fully reserved 1:1 with US dollars. Eligible PYUSD holders can currently earn variable rewards at an annual rate of 4%, accrued daily and paid monthly in PYUSD. Why this matters for crypto markets PayPal’s stablecoin push is happening against a shifting regulatory backdrop. The Amer...