PayPal 2025年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedJune 30, 2025.OR☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the Transition Period fromto.Commission file number001-36859 PayPal Holdings, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware(State or Other Jurisdiction ofIncorporation or Organization)2211 North First Street(Address of Principal Executive Offices) 47-2989869(I.R.S. EmployerIdentification No.)95131(Zip Code) (408)967-7000(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each classTrading Symbol(s)Name of each exchange on which registeredCommon stock, $0.0001 par value per sharePYPLNASDAQ Global Select Market Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Acceleratedfiler☐Smallerreportingcompany☐Emerging growth company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for Large accelerated filer☒Non-accelerated filer☐ complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ As of July23, 2025, there were955,378,405shares of the registrant’s common stock, $0.0001par value, outstanding, which is theonly class of common or voting stock of the registrant issued. PayPal Holdings, Inc.TABLE OF CONTENTS Part I.Financial InformationItem 1.Condensed Consolidated Balance SheetsCondensed Consolidated Statements of Income (Loss)Condensed Consolidated Statements of Comprehensive Income (Loss)Condensed Consolidated Statements of Stockholders’ EquityCondensed Consolidated Statements of Cash FlowsNotes to Condensed Consolidated Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and ProceduresPart II.Other InformationItem 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures PARTI: FINANCIAL INFORMATION ITEM 1: FINANCIAL STATEMENTS The accompanying notes are an integral part of these condensed consolidated financial statements. PayPal Holdings, Inc. The accompanying notes are an integral part of these condensed consolidated financial statements. PayPal Holdings, Inc.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) NOTE1—OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES OVERVIEW AND ORGANIZATION PayPal Holdings, Inc. (“PayPal,” the “Company,” “we,” “us,” or “our”) was incorporated in Delaware in January 2015. At PayPal, ourmission is to revolutionize commerce globally. Our products are designed to enable digital payments and simplify commerceexperiences for consumers and merchants to make selling, shopping, and sending and receiving money simple, personalized, secure,online or offline, including mobile. Our two-sided platform serves millions of consumers and merchants worldwide. SIGNIFICANT ACCOUNTING POLICIES Basis of presentation and principles of consolidation The accompanying condensed consolidated financial statements include the financial statements of PayPal and our wholly- andmajority-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. We determine at the inception of each investment, and re-evaluate if certain events occur, whether an entity in which we have made aninvestment is considered a variable interest entity (“VIE”). If we determine an investment is in a VIE, we then assess if we are theprimary beneficiary, which would require consolidation. As of June30, 2025 and December 31, 2024, no