PayPal is seemingly still open to Stripe’s $53.4 billion takeover bid, just not at the price the latter had offered.

On the company’s Q2 2026 earnings call on Tuesday, PayPal CEO Enrique Lores didn’t fully shut down the idea of a deal, saying the company would consider a path that created “superior value” for its shareholders.

While that’s not the same as saying, “PayPal’s not for sale,” it still suggests the company doesn’t believe Stripe and Advent International’s current offer of $60.50 per share values it correctly, especially after the company reported better-than-expected profit and revenue, and said it had made progress on its turnaround strategy.

An analysis from financial services firm Cantor valued PayPal at closer to $70 per share. The company’s shares are currently trading at around $58.

PayPal reported adjusted profit of $1.38 per share, beating expectations of $1.28 per share. Revenue was up 5% year-over-year to $8.68 billion, above estimates of $8.47 billion. And adjusted free cash flow of $1.8 billion gives the company room to continue investing in its products and strategy.

That doesn’t mean PayPal would walk away from a takeover bid.

While Lores didn’t directly address Stripe’s offer, saying PayPal doesn’t comment on potential mergers or market speculation, he did acknowledge that a viable M&A bid would not be dismissed outright.

“If we see levers or a path that we believe would create superior value for our shareholders than executing our current strategy, we would, of course, carefully consider them,” he told investors on Tuesday.

PayPal is still busy with its AI-focused turnaround, which included a restructuring exercise to streamline its operations into three segments: checkout solutions and PayPal; consumer financial services (and Venmo); and payment services and crypto. The company has said it will generate additional cost savings as it embraces AI in areas like coding, customer service, support operations, and risk management.

Lores offered an update on this strategy on Tuesday, saying the company was “making good progress” on its plan to deliver at least $1.5 billion in gross run-rate savings over the next two to three years. He also said PayPal is on track to remove three organizational layers across the company, and is continuing to modernize its technology. This last bit includes migrating from its data center to the cloud, building a more modular and scalable architecture, and reducing platform complexity.

“We believe that executing the transformation strategy I have outlined will create significant value for shareholders. That remains our focus,” Lores said. “While there is still significant work ahead. I have strong conviction in our direction and in our ability to execute.”