eBay (EBAY) Q3 2026 Earnings Report
MX:EBAY Q3 2026 EPS Results
- Actual EPS
- MXN 28.38
- Consensus EPS
- MXN 26.59
- Beat/Miss
- Beat by +MXN 1.79
- One Year Ago EPS
- MXN 25.56
MX:EBAY Q3 2026 Revenue Results
- Actual Revenue
- MXN 60.28B
- Expected Revenue
- MXN 58.54B
- Beat/Miss
- Beat by +MXN 1.74B
- YoY Revenue Growth
- +11.85%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/28/2026
- Time
- After Close
- Conference Call
- Wednesday, October 28, 2026
MX:EBAY Upcoming Earnings
eBay's next earnings date is estimated for February 24, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:EBAY Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive overall. eBay exceeded Q3 expectations with double-digit GMV, revenue, operating-income, and EPS growth, while strategic areas including focus categories, C2C, Depop, eBay Live, Motors, fashion, advertising, AI, and shipping showed substantial momentum. The main challenges were slower international and ex-acquisition buyer growth, a lower transaction take rate, macro pressure in some markets, expected moderation in trading-card growth, and Q4 profit growth guidance below the Q3 pace. Management nevertheless maintained a constructive outlook for Q4 and 2027.
Company Guidance
For Q4, eBay expects consolidated GMV between $23.7 and $24.1 billion, including 12% to 14% year over year or organic growth between approximately 8% to 10%, with Depop contributing 4 percentage points to total FX-neutral GMV growth; consolidated revenue is expected to be between $3.19 and $3.24 billion, representing total FX-neutral growth between 7% to 9% year over year or organic growth between 5% to 7%, with Depop contributing 2 percentage points to total FX-neutral revenue growth; consolidated non GAAP operating income growth is expected to be between 6% to 10% year over year, implying non GAAP operating margin between 25.7% to 26.2%, and consolidated non GAAP earnings per share is expected to be between $1.48 and $1.53, implying year over year growth between approximately 5% to 9%. eBay continues to target roughly $2 billion of stock repurchases for the full year and declared a quarterly cash dividend of $0.31 per share for the fourth quarter; for 2027, management is planning around healthy consolidated year over year growth across GMV, revenue, non GAAP operating income and non GAAP earnings per share, expects trading cards growth to naturally moderate, forecasts modest headwinds to net interest income, expects its non GAAP tax rate to remain relatively stable, and plans to target repurchases and cash dividends totaling between 90% to 100% of normalized free cash flow absent organic or inorganic needs for that capital.
- Strong Third-Quarter Financial PerformanceQ3 GMV grew 13% organically to more than $23 billion, or nearly 16% on an FX-neutral basis to $23.2 billion. Revenue grew 11% organically to $3.2 billion, or 13% on an FX-neutral basis to $3.21 billion. Non-GAAP operating income increased 11% to $843 million, and non-GAAP EPS grew nearly 12% to $1.51. Results exceeded consensus expectations and the high end of guidance ranges.
- Broad-Based Strategic GrowthFocus categories, C2C, and Recommerce each grew GMV by more than 20% in Q3, while focus-category GMV increased 24%. Collectively, focus categories, C2C, and Recommerce represented 72% of total GMV excluding Depop. Collectibles, Motors, fashion, and refurbished goods were material contributors.
- Depop Delivered Strong Initial ResultsDepop's first quarter as part of eBay exceeded expectations. Depop's U.S. GMV, monthly active users, and sold items more than doubled year over year on a pro forma basis. Trailing 12-month active buyers reached 11 million, up from 9 million, and active sellers reached 5 million. New cohorts were buying and selling more than prior cohorts, while repurchase, relist, and resell rates improved year over year.
- Collectibles Momentum and Product ExpansionTrading cards maintained strong GMV growth despite increasingly difficult comparisons, supported by Pokémon's 30th anniversary releases, major summer events, and the fall sports calendar. eBay's AI-powered card-scanning tool surpassed 130 million scans, expanded to the UK, and began incorporating transaction data from TCGplayer and Golden into its price guide.
- Authenticity Guarantee Expanded Across CategorieseBay expanded Authenticity Guarantee to lower-priced trading cards in the U.S. and UK, increasing the number of eligible sold items in the U.S. by more than 20%. The program surpassed 20 million cumulative inspected items in July. eBay also launched Authenticity Guarantee for eligible graded coins and qualifying raw U.S. coins priced at $500 or more, and expanded luxury-fashion authentication across 23 European Union countries.
- Collectibles Marketplaces Continued to ScaleTCGplayer surpassed $1 billion in trailing 12-month GMV for the first time and opened seller registration in the UK and Canada. Golden delivered another record GMV quarter, including an auction in which a rare copy of the Declaration of Independence sold for more than $3.6 million.
- eBay Motors Added Growth and Transaction ProtectionseBay Motors remained a material contributor to GMV growth across parts and accessories and vehicles. eBay launched easy and free returns for parts and accessories in Germany, introduced certified recycled badging in the U.S., launched Secure Purchase Express for qualifying C2C vehicle transactions, onboarded hundreds of independent dealers, and increased vehicle purchase protection coverage to $500,000. Several vehicle sales exceeded $1 million, including a 2005 Porsche Carrera GT sold for $5 million.
- Fashion and Secondhand Luxury Continued to GrowLuxury fashion delivered another quarter of healthy double-digit GMV growth. In the U.S., combined eBay and Depop fashion GMV reached approximately $9 billion over the trailing 12 months and grew in the mid-20% range year over year on a pro forma basis. eBay stated that its trust infrastructure has made it the leading online marketplace for secondhand luxury fashion sales in the U.S. and UK.
- C2C Momentum and AI Listing ProductivityGlobal C2C GMV grew by more than 20% in Q3, with healthy double-digit growth in the U.S., UK, and Australia. Magical Listing was available to new and reactivated listers across six major markets and was being ramped to active seller groups in the U.S., UK, and Germany. In Australia, active sellers created more than one-third more listings per attempt, while average listing time fell by approximately one-third. eBay also reported measurable improvements in conversion and sell-through from enhanced AI pricing guidance.
- C2C Proposition Expanded in France and ItalyeBay launched comprehensive C2C improvements in France and Italy, combining free selling, buyer protection, Magical Listing, enhanced local discovery, eBay Balance, and simplified shipping. The launches drove meaningful uplift in leading indicators including new and reactivated listers.
- eBay Live Reached a Multibillion-Dollar Run RateeBay Live delivered another record quarter, reached a multibillion-dollar annualized GMV run rate, and grew well into the triple digits year over year across all seven markets. Sellers, buyers, content hours, and viewership continued to expand. Self-service onboarding was broadened to more markets and to sellers beyond established eBay merchants.
- eBay Live Expanded Distribution and Trust FeatureseBay launched multistreaming through Live Studio to YouTube, Facebook, Instagram, and Twitch; redesigned the Live Hub with improved search, filters, personalized recommendations, and a feed-based experience; and introduced AI-powered moderation across chat, audio, and video. Live sellers generated roughly twice as much GMV on the core marketplace as in live events over the trailing 12 months, and live buyers were reported to spend 70% more than comparable buyers.
- Shipping Capabilities Expanded InternationallyeBay launched eBay shipping in the UK and Germany, enabling sellers to ship to an eBay hub and reach buyers in more than 190 markets while eBay handles transportation, customs, returns, and post-purchase support. In the UK, the service was estimated to be up to 30% cheaper for customers than the previous global shipping program.
- Managed Shipping and Delivery ImprovementsThe nationwide rollout of U.S. managed shipping to all new and reactivated listers was completed. AI now estimates package size and weight, generates prepaid labels, and provides tracking, with early results showing a double-digit percentage reduction in listing time and strong customer satisfaction. In the UK, approximately 95% of buyers live within one mile of a pickup or drop-off location.
- Advertising Revenue and Product InnovationTotal advertising revenue reached $607 million, up 16% year over year, while first-party advertising revenue grew 16% to $575 million. Nearly 6 million sellers adopted at least one promoted-listing product during the quarter. eBay introduced an AI-powered placement engine, expanded video ad formats, and rolled out personalized advertising prompts for C2C sellers.
- Buyer Engagement and Enthusiast Economics ImprovedTrailing 12-month active buyers increased 4% on a pro forma basis to 147 million. Excluding Depop and Tise, U.S. active buyers grew 6% organically, and U.S. enthusiast buyers increased 9%. Global enthusiast buyers grew more than 2%, represented over 70% of marketplace GMV, and generated approximately $3,700 of trailing 12-month spend per buyer.
- Profitability and Shareholder Returns Remained StrongNon-GAAP gross margin increased 60 basis points year over year to 73.1%. eBay generated $749 million of free cash flow, repurchased approximately $690 million of shares at an average price of roughly $106, and returned nearly $830 million through repurchases and cash dividends. The company continued to target approximately $2 billion of share repurchases for the full year.
- Healthy Fourth-Quarter and 2027 OutlookQ4 guidance calls for GMV of $23.7 billion to $24.1 billion, representing 12% to 14% total year-over-year growth or approximately 8% to 10% organic growth. Revenue is expected to be $3.19 billion to $3.24 billion, with 7% to 9% total FX-neutral growth or 5% to 7% organic growth. Management is planning for healthy consolidated year-over-year growth across GMV, revenue, non-GAAP operating income, and non-GAAP EPS in 2027.
- Secondhand Market TailwindseBay's 2026 e-commerce report found that 47% of surveyed consumers now buy secondhand at least monthly, up from 35% last year, while 89% expect to spend the same or more on secondhand goods in 2027. Approximately 85% of sellers source secondhand inventory from their own belongings, and nearly 30% said selling secondhand helps them earn extra income.
- AI and Agentic Commerce OpportunityManagement said AI is already contributing meaningfully to marketplace growth through listing, cataloging, search, discovery, trust, and delivery tools. Traffic from consumer agents is currently very small but is bringing new and reactivated buyers at a higher rate than similar channels, with roughly half of referred new buyers returning directly to eBay for subsequent purchases.
- Pay by Bank and Financial Services ExpansionFollowing a UK launch, eBay expanded Pay by Bank to Germany and France. Management stated that Pay by Bank transactions in Germany generate high average order values and lower processing costs than other payment methods.
MX:EBAY Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 24, 2027 | 2026 (Q4) | 28.39- | 26.5 | ― | ― |
| Oct 28, 2026 | 2026 (Q3) | 26.5928.38 | 25.56 | 11.03% (+2.82) | |
| Aug 05, 2026 | 2026 (Q2) | 28.2630.07 | 25.75 | 16.79% (+4.32) | |
| Apr 29, 2026 | 2026 (Q1) | 29.7331.19 | 25.93 | 20.29% (+5.26) | |
| Feb 18, 2026 | 2025 (Q4) | 25.6126.50 | 23.49 | 12.80% (+3.01) | |
| Oct 29, 2025 | 2025 (Q3) | 25.0725.56 | 22.36 | 14.29% (+3.19) | |
| Jul 30, 2025 | 2025 (Q2) | 24.3725.75 | 22.17 | 16.10% (+3.57) | |
| Apr 30, 2025 | 2025 (Q1) | 25.1425.93 | 23.49 | 10.40% (+2.44) | |
| Feb 26, 2025 | 2024 (Q4) | 22.5523.49 | 20.11 | 16.82% (+3.38) | |
| Oct 30, 2024 | 2024 (Q3) | 22.1422.36 | 19.36 | 15.53% (+3.01) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed