PayPal Holdings Inc. reported its second-quarter 2025 earnings, surpassing analyst expectations on key financial metrics. The company posted net revenue of $8.29 billion, exceeding estimates of approximately $8.08 billion, reflecting a 5% year-over-year increase. Adjusted earnings per share (EPS) rose 18% to $1.40, beating the consensus estimate of $1.30. Total payment volume (TPV) grew 6% to $443.55 billion, with Venmo's TPV increasing 12% to $81.98 billion, contributing to a 20% revenue growth in the Venmo segment. Active accounts reached 438 million, up 2% year-over-year, although transactions per active account declined by 4%. PayPal's operating income was reported at $1.5 billion GAAP and $1.64 billion non-GAAP, with free cash flow at $692 million, down 49%. The company repurchased $1.5 billion in shares during the quarter. Based on the strong performance and momentum in business lines including Venmo and new checkout experiences, PayPal raised its full-year 2025 adjusted EPS guidance to a range of $5.15 to $5.30, up from the prior outlook of $4.95 to $5.10, implying an 11% to 14% year-over-year growth. For the third quarter of 2025, the company projects adjusted EPS between $1.18 and $1.22, in line with estimates. PayPal's improved outlook reflects its focus on profitability and high-margin payments amid ongoing growth in active accounts and total payment volume.