PYPL · PayPal Q2 FY2026 earnings call record财报电话会记录

“Revenue increased 5% and transaction margin dollars grew 1%.”

“Excluding interest on customer balances, TM dollars grew 3%, driven by continued strength in Venmo, credit, and Braintree, while at the same time increasing our growth investments this quarter.”

“As a result, we are raising our full-year guidance for transaction margin dollars and non-GAAP EPS.”

“As we expand the value we deliver to consumers, we expect to drive deeper engagement, increase monetization, and accelerate the growth of Venmo.”

“We know our customers value products like our Venmo Debit Card, and they are using them more frequently, with monthly active accounts up more than 50% year-over-year.”

“Moving to capital allocation, in the second quarter, we completed $1.5 billion in share repurchases, bringing the trailing 12-month total to $6 billion.”

“We now expect transaction margin dollars to increase to approximately $15.6 billion or $14.5 billion, excluding interest on customer balances.”

“Our guidance continues to assume at least $6 billion of adjusted free cash flow and approximately $6 billion in share repurchases.”

“We now expect these investments to represent a modestly lower headwind to transaction margin dollars in 2026 than the three points we previously anticipated.”

“The third big change is the incremental focus on the consumer side of the network, especially in what we consider our high-value customers.”

“By understanding what they need, offering what they are demanding from us, we not only offer more value to them, but also to merchants because the more value we offer to those customers, the more value to offer to merchants.”

“We have seen TPV growth in Q2 of 9%, and an addition of 500 customers, new monthly active.”