A power amplifier circuit includes a first transistor, a second transistor, a first bias circuit supplying a first bias current or voltage, a second bias circuit supplying a second bias current or voltage, a first inductor, and a first capacitor. A power supply voltage is supplied to a collector of the first transistor, and an emitter thereof is grounded. A radio frequency signal and the first bias current or voltage are supplied to a base of the first transistor. The power supply voltage is supplied to a collector of the second transistor, and an emitter thereof is connected to the collector of the first transistor via the first capacitor and is grounded via the first inductor. The second bias current or voltage is supplied to a base of the second transistor. An amplified radio frequency signal is output from the collector of the second transistor.