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

On the company’s second-quarter 2026 earnings conference call on Tuesday, PayPal CEO Enrique Lores did not completely rule out the idea of ​​a deal, saying the company would consider a path that creates “superior value” for its shareholders.

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

An analysis by financial services firm Cantor valued PayPal at about $70 per share. The company’s shares are currently trading at about $58.

PayPal reported adjusted earnings of $1.38 per share, beating expectations of $1.28 per share. Revenue rose 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 abandon a takeover bid.

While Lores did not directly address Stripe’s offer, saying that PayPal does not comment on potential mergers or market speculation, he did acknowledge that a viable M&A offer would not be ruled out out of hand.

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

PayPal is still busy with its AI-focused shift, which included a restructuring exercise to streamline its operations into three segments: PayPal and payment solutions; consumer financial services (and Venmo); and payment and crypto services. The company has said it will generate additional cost savings as it adopts AI in areas such as 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 generate 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 eliminate three organizational layers across the company and continues to modernize its technology. The latter includes migrating from your 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 much work ahead, I have strong conviction in our direction and our ability to execute.”