Overview
- Enrique Lores, PayPal’s board chair and HP’s longtime chief, will become CEO on March 1, with CFO Jamie Miller serving as interim CEO and David W. Dorman appointed independent board chair.
- Shares fell roughly 16%–20% after PayPal missed fourth-quarter estimates, reporting $8.68 billion in revenue and adjusted earnings of $1.23 per share.
- Management guided 2026 adjusted profit to range from a low-single-digit decline to a slight increase, and said it will stop offering multi-year targets in favor of one-year forecasts.
- Growth in the high-margin branded checkout business slowed to 1% in the quarter from 6% a year earlier, pressured by softer U.S. retail spending and tougher competition.
- The board said the pace of change under Alex Chriss fell short of expectations, underscoring a pivot toward near-term delivery and tighter operational discipline under new leadership.