PayPal leaves the door open to a higher takeover offer following earnings beat

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.”