people · May 20, 2026
PayPal CEO Enrique Lores Says Company Remains Intact with PayPal Venmo and Braintree Together
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Enrique Lores stated during the May 6 2026 earnings call that PayPal Venmo and Braintree remain together under one company due to significant synergies across the three businesses. The comments followed the April 29 2026 reorganization placing Braintree in the separate Payment Services & Crypto unit alongside crypto. Lores took over as CEO in March 2026 after Alex Chriss and is the third CEO in three years. First quarter results showed net income down 14 percent to 1.11 billion dollars while revenue rose 7 percent to 8.35 billion dollars and payments volume grew 11 percent to 464 billion dollars. Plans include 1.5 billion dollars in cost savings and potential 20 percent employee reduction over the next two to three years.