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Sentiment · FY2026 Q2
eBay posted exceptional Q1 results with revenue growing 17% to over $3 billion and non-GAAP EPS surging 21% to $1.66 as GMV rose 14% to over $22 billion on broad-based strategic priority acceleration. Collectibles led with 24% focus category growth while C2C achieved double-digit growth across top markets and eBay Live scaled at 8x year-over-year GMV run rate. FY2026 guidance was raised with GMV growth targeted at 7-7.5% and OI growth at 9-11%.
Revenue Growth | Demand | Competitive Dynamics | Cloud & AI | Product Launch | Margin | Trade Tariffs | Innovation & R&D | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 7 | 4 | 4 | 2 | 1 | 2 | 1 | 2 |
| 2025Q1 | 2 | 6 | 5 | 1 | 1 | 1 | 6 | |
| 2025Q2 | 7 | 8 | 3 | 2 | 3 | 3 | 1 | 2 |
| 2025Q3 | 6 | 4 | 2 | 2 | 2 | 2 | 2 | |
| 2025Q4 | 5 | 5 | 4 | 3 | 3 | 1 | 1 | |
| 2026Q1 | 4 | 4 | 2 | 5 | 2 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 7 | 2 | 7 | 6 | 5 | 4 |
| Demand | 4 | 6 | 8 | 4 | 5 | 4 |
| Competitive Dynamics | 4 | 5 | 3 | 2 | 4 | 2 |
| Cloud & AI | 2 | 1 | 2 | 2 | 3 | 5 |
| Product Launch | 1 | 1 | 3 | 2 | 3 | 2 |
| Margin | 2 | 1 | 3 | 2 | 1 | 1 |
| Trade Tariffs | 1 | 6 | 1 | |||
| Innovation & R&D | 2 | 2 | 2 | 1 | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.58B | +0.7% | $1.40 | +0.7% | 72.2% | 21.1% | 26.3% | $560M |
| FY2025 Q1 | $2.58B | +1.1% | $1.06 | +26.2% | 72.0% | 23.8% | 19.5% | $644M |
| FY2025 Q2 | $2.73B | +6.1% | $0.78 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Michael Morton | MoffettNathanson | 10 (0%) |
| Nikhil Devnani | Bernstein | 10 (20%) |
| Ross Sandler | Barclays |
| +77.3% |
| 71.6% |
| 17.7% |
| 13.5% |
| $-441M |
| FY2025 Q3 | $2.82B | +9.5% | $1.35 | +5.5% | 70.9% | 20.4% | 22.4% | $765M |
| FY2025 Q4 | $2.96B | +15.0% | $1.15 | -17.9% | 71.4% | 20.3% | 17.8% | $466M |
| FY2026 Q1 | $3.09B | +19.5% | $1.12 | +5.7% | 74.0% | 19.8% | 16.6% | $898M |
| FY2026 Q2 | $3.13B | +14.8% | $1.21 | +55.1% | 73.5% | 21.6% | 17.5% | $300M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Tom Champion | Piper Sandler | 9 (0%) |
| Nathan Feather | Morgan Stanley | 9 (0%) |
| Colin Sebastian | Robert W. Baird | 8 (0%) |
| Lee Horowitz | Deutsche Bank | 6 (0%) |
| Shweta Khajuria | Wolfe Research | 6 (0%) |
| Ygal Arounian | Wedbush Securities | 6 (0%) |
| Eric Sheridan | Goldman Sachs | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| MoffettNathanson | 1 | 10 (0%) |
| Bernstein | 1 | 10 (20%) |
| Barclays | 1 | 9 (0%) |
| Morgan Stanley | 1 | 9 (0%) |
| Piper Sandler | 1 | 9 (0%) |
| Wolfe Research | 3 | 8 (0%) |
| Robert W. Baird | 1 | 8 (0%) |
| Wedbush Securities | 2 | 7 (0%) |
What EBAY and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Our SpeedPAK partnership continues to perform well in Greater China and Japan as these capabilities are becoming increasingly important as cross-border trade grows more complex.”
eBay's SpeedPAK cross-border shipping partnership is performing well in Greater China and Japan and is being expanded to Germany and other markets.
“Our acquisition of Caramel, a little over a year ago is helping us bring in more comprehensive eBay Motors offering by combining the strength of our scaled P&A business with our nascent”
eBay's roughly year-old Caramel acquisition is supporting its expansion into digital vehicle transactions and eBay Motors.
“We also recently strengthened our P&A value proposition with the acquisition of Aladin Systems, a U.K.-based software provider for salvage yards.”
eBay acquired UK salvage-yard software provider Aladin Systems to bring more recycled parts-and-accessories inventory onto its platform.
“in March, we held our first direct from brand live shopping event with Marks & Spencer in the U.K.”
Marks & Spencer partnered with eBay for its first direct-from-brand live shopping event, signaling brand willingness to sell via eBay Live.
“Our pending acquisition of Depop is now expected to close by the end of the third quarter of 2026.”
eBay's pending acquisition of resale platform Depop is progressing through regulatory clearances and expected to close by Q3 2026, extending eBay's fashion resale reach.
“eBay inventory is now enabled in the search box for the majority of Facebook Marketplace users in the U.S., Germany and France.”
eBay has moved its inventory integration in Facebook Marketplace search from pilot to general availability, using Meta's scaled audience to drive incremental traffic to eBay listings.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
EBAY eBay | 8 | +19.5% | |
| AMZN Amazon.com, Inc. | 9 | +16.6% | |
| AZO AutoZone | 6 | +8.2% | |
| BBY Best Buy | 5 | -1.0% | |
| CASY Casey's General Stores, Inc. | 8 | +0.3% | |
| GPC Genuine Parts Company | 6 | +6.8% | |
| MELI MercadoLibre | 7 | +49.0% | |
| ORLY O'Reilly Automotive | 8 | +10.2% | |
| PDD PDD Holdings | 6 | +10.4% | |
| TSCO Tractor Supply | 5 | +3.6% | |
| ULTA Ulta Beauty | 7 | +11.8% | |
| WSM Williams-Sonoma | 5 | -4.3% |