eBay Inc. Reports First Quarter 2026 Results

SAN JOSE, Calif., April 29, 2026 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today reported financial results for its first quarter ended March 31, 2026.

"eBay's first quarter results marked a strong start to the year," said Jamie Iannone, Chief Executive Officer at eBay. "We accelerated GMV growth and delivered performance ahead of expectations. Our Focus Categories, C2C and recommerce strategic priorities are driving broad-based momentum, and strengthening our position as the marketplace of choice for enthusiasts."

"Our strong first quarter results, characterized by robust GMV and revenue growth, along with healthy earnings, reflect the powerful operating leverage inherent in our business," said Peggy Alford, Chief Financial Officer at eBay. "We remain committed to disciplined execution of our strategic priorities while continuing to allocate capital thoughtfully to drive long-term value and significant returns for our shareholders."

First Quarter 2026 Business Highlights

• eBay announced a definitive agreement to acquire Depop, a leading consumer-to-consumer ("C2C") fashion marketplace, from Etsy, which would deepen eBay's reach with younger, fashion-forward consumers and expand its presence in one of the most dynamic areas of resale.
• The company expanded eBay Live, its interactive live-stream shopping experience, to France, Italy and Canada, growing seller reach and deepening buyer engagement.
• eBay launched "The 30/30 Collection" on eBay Live, a Pokémon Day auction that showcased 30 years of iconic cards and memorabilia from top sellers, boosting engagement in one of the marketplace's most popular Focus Categories.
• Goldin, an eBay company, reached an all-time quarterly GMV record in the first quarter, facilitated by a record-breaking $16.5 million sale of a PSA 10 Pikachu Illustrator card.
• eBay hosted several Bay Area activations for football's biggest game, including the immersive eBay End Zone pop-up, celebrity-driven eBay Live shopping events and a community watch party. The events showcased eBay's unique inventory and relevance across collectibles, fashion and sports memorabilia.
• eBay's AI-powered card scanning feature, which surfaces historical pricing and population data from a single photo, expanded to include the company's top five collectible card game genres, and surpassed 30 million cumulative scans.
• eBay released "The NYC Edit," an online style guide highlighting what New Yorkers are buying and selling on eBay. The curated storefronts allowed buyers to shop directly from influencers' closets, and was accompanied by a three-day in-person resale experience held in April.
• The company collaborated with Vogue on the Vogue Vintage Market pop-ups in New York, London and Berlin, featuring a curated selection of premium vintage pieces handpicked from eBay by leading voices in fashion. Select items were auctioned via eBay Live where customers around the world could participate and bid in real time.
• eBay announced a new partnership with Meta for the Facebook affiliate program, allowing creators to feature eBay's inventory directly within their content, and helping sellers reach new, engaged buyers through social commerce.
• eBay expanded its financial services offerings in the U.K. by partnering with Liberis to add Flexible Growth Financing to its Seller Capital program, and introduced Pay by Bank at checkout through a partnership with TrueLayer, enabling instant, secure payments.
• The company announced the appointment of Brian Sharples to its Board of Directors. Mr. Sharples serves as Board Chair of GoDaddy, Inc., and previously co-founded and served as CEO and Chairman of HomeAway, Inc.

Impact

• eBay released its inaugural Climate Transition Plan, a company-wide roadmap to reach net-zero greenhouse gas emissions by 2045. The plan details how eBay is well-positioned to drive sustainable commerce at scale, and as a result, create enduring value for customers, communities and the planet.
• eBay for Charity enabled buyers and sellers to raise nearly $60 million worldwide in the first quarter.
• eBay received numerous awards, including recognition from Fortune as one of America's Most Innovative Companies 2026, from Newsweek as one of America's Greenest Companies 2026, and from TIME as one of America's Most Iconic Companies 2026.

First Quarter 2026 Financial Highlights

• Revenue was $3.1 billion, up 19% on an as-reported basis and up 17% on a foreign exchange ("FX") neutral basis.
• GMV was $22.2 billion, up 18% on an as-reported basis and up 14% on an FX-Neutral basis.
• GAAP net income from continuing operations was $512 million, or $1.12 per diluted share.
• Non-GAAP net income from continuing operations was $760 million, or $1.66 per diluted share.
• GAAP and Non-GAAP operating margins were 19.8% and 29.4%, respectively.
• Generated $970 million of operating cash flow and $898 million of free cash flow from continuing operations.
• Returned $639 million to stockholders, including $500 million of share repurchases and $139 million paid in cash dividends.

Other Selected Financial and Operational Results

• Advertising revenue – The company's total advertising offerings generated $581 million of revenue in the first quarter of 2026, representing 2.6% of GMV. First-party advertising products on the eBay platform delivered $555 million of revenue in the first quarter of 2026, up 33% on an as-reported basis and up 28% on an FX-Neutral basis.
• Operating margin – GAAP operating margin decreased to 19.8% for the first quarter of 2026, compared to 23.6% for the same period last year. Non-GAAP operating margin decreased to 29.4% for the first quarter of 2026, compared to 29.6% for the same period last year.
• Income tax rate – The GAAP effective tax rate for continuing operations for the first quarter of 2026 was 17.1%, compared to 20.4% for the first quarter of 2025. The non-GAAP effective tax rate for continuing operations for the first quarter of 2026 was 17.5%⁽¹⁾.
• Cash flow – The company generated $970 million of operating cash flow and $898 million of free cash flow during the first quarter of 2026 from continuing operations.
• Capital returns – The company repurchased $500 million of its common stock, or approximately 6 million shares, in the first quarter of 2026. The company's total repurchase authorization remaining as of March 31, 2026 was approximately $2.3 billion. The company also paid cash dividends of $139 million during the first quarter of 2026.
• Cash and cash equivalents and non-equity investments – The company's cash and cash equivalents and non-equity investments portfolio totaled $5.1 billion as of March 31, 2026.

Business Outlook

eBay is providing the following guidance for continuing operations for the second quarter 2026.

Dividend Declaration

eBay's Audit Committee declared a second quarter 2026 cash dividend of $0.31 per share of the company's common stock. The dividend is payable on June 12, 2026 to stockholders of record as of May 29, 2026.

Definitive Agreement to Acquire Depop, Inc.

In February 2026, eBay Inc. and Etsy, Inc. announced that they entered into a definitive agreement for eBay to acquire Depop, Inc. for approximately $1.2 billion in cash, subject to certain purchase price adjustments. The pending acquisition is now expected to close by the end of the third quarter of 2026, subject to the satisfaction of certain closing conditions and receipt of required regulatory approvals. eBay and Etsy have received regulatory clearances in the United States and Germany, and reviews are in progress in other markets, including the United Kingdom and Australia.

Quarterly Conference Call and Webcast

eBay Inc. will host a conference call to discuss first quarter 2026 results at 2:30 p.m. Pacific Time today. A live webcast of the conference call, together with a slide presentation that includes supplemental financial information and reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, can be accessed through the company's Investor Relations website at https://investors.ebayinc.com. In addition, an archive of the webcast will be accessible for at least three months through the same link.

eBay Inc. uses its Investor Relations website at https://investors.ebayinc.com and social media channels as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor this website, in addition to following our press releases, Securities and Exchange Commission (SEC) filings, public conference calls and webcasts.

About eBay

eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world's largest and most vibrant marketplaces for discovering great value and unique selection. In 2025, eBay enabled nearly $80 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com. 

Presentation

All growth rates represent year-over-year comparisons, except as otherwise noted. All amounts in tables are presented in U.S. dollars, rounded to the nearest million, except as otherwise noted. As a result, certain amounts may not sum or recalculate using the rounded dollar amounts provided. References to "revenue" refer to "net revenues" as reported in the company's consolidated statement of income.

New Accounting Standard  

In September 2025, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Accounting for and Disclosure of Software Costs. eBay adopted the standard effective January 1, 2026 using the full retrospective method, which required the restatement of each prior reporting period presented.

Non-GAAP Financial Measures

This press release includes the following financial measures defined as "non-GAAP financial measures" by the SEC: non-GAAP net income, non-GAAP earnings per diluted share, non-GAAP operating income and margin, non-GAAP effective tax rate, free cash flow and FX-Neutral basis. These non-GAAP financial measures are presented on a continuing operations basis. These measures may be different from non-GAAP financial measures used by other companies. The presentation of this financial information, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation of, or as a substitute for, the financial information prepared and presented in accordance with generally accepted accounting principles ("GAAP"). For a reconciliation of these non-GAAP financial measures, except for figures in this press release presented on an "FX-Neutral basis," to the nearest comparable GAAP measures, see "Non-GAAP Measures of Financial Performance," "Reconciliation of GAAP Operating Income to Non-GAAP Operating Income," "Reconciliation of GAAP Net Income to Non-GAAP Net Income and GAAP Effective Tax Rate to Non-GAAP Effective Tax Rate" and "Reconciliation of Operating Cash Flow to Free Cash Flow" included in this press release. For figures in this press release reported "on an FX-Neutral basis," we calculate the year-over-year impact of foreign currency movements using prior period foreign currency rates, excluding hedging activity, applied to current year transactional currency amounts.

Forward-Looking Statements

This press release contains forward-looking statements relating to, among other things, the future performance of eBay Inc. and its consolidated subsidiaries that are based on the company's current expectations, forecasts and assumptions and involves risks and uncertainties. These statements include, but are not limited to, management's vision for the future of eBay and our ability to accomplish our vision, expected financial results for the second quarter and full year 2026 and expected drivers thereof, the future growth in our business, and our ability to drive sustainable long-term growth and create lasting value for our stockholders, the impact of current and contemplated strategic initiatives and offerings, partnerships with and acquisitions of other companies, and new and updated product features or programs, including the initiatives, offerings, partnerships, acquisitions, features and programs discussed in our business highlights, the effects of foreign currency volatility and our ability to respond to such effects, operating efficiency and margins, and dividends and share repurchases.

Actual results could differ materially from those expressed or implied and reported results should not be considered as an indication of future performance. Factors that could cause or contribute to such differences include, but are not limited to: significant variation in our operating and financial results, including GMV and net revenues; our ability to compete in the markets in which we participate; our ability to generate revenue from our advertising products, including our Promoted Listings; our ability to generate consumer engagement and spending; our ability to keep pace with technological changes, including emerging AI technologies, and with changes in consumer demands and expectations; our ability to operate internationally and generate revenue from our international operations and our exposure to costs and risks in connection therewith; the impact of changes in global trade policies on our revenue, profit and ability to support cross-border trade; our ability to manage our buyer and seller trust protection programs; the risk of systems failures and business interruptions to our business; operation of and ongoing investment into our payments and financial services offerings; risk of fraud on our platforms; the impact of any cyberattacks or data security breaches; our ability to attract, retain and develop our senior managers and other key employees; our and our customers' dependence on third-party providers, some of which are our competitors; the impact of our current, contemplated and future acquisitions, dispositions, joint ventures, strategic partnerships and strategic investments, including our expectations regarding the time to close, and our ability to close, and subsequently realize the projected benefits from, the pending Depop acquisition; the impact of extensive and increasing regulation and oversight that affect our business; the risk of liability for the actions of our customers, including products sold by sellers on our platforms; the impact of increasing levels of regulation in the areas of privacy, protection of user data and cybersecurity; the risks associated with third party allegations relating to intellectual property rights; current and potential litigation and regulatory and government inquiries, investigations and litigation involving us; the impact of evolving sales and other tax regimes in various jurisdictions; our ability to protect or enforce our intellectual property rights; risks and costs relating to stakeholder expectations around environmental, social and governance matters; potential exposure to claims and liabilities as a result of the distribution of PayPal; the risk of exposure to greater than anticipated tax liabilities; fluctuations in interest rates, and changes in regulatory guidance relating thereto; fluctuations in foreign currency exchange rates; our ability to generate sufficient cash flow to service our indebtedness and to comply with financial covenants in our outstanding debt instruments; and the risk that our stock repurchases may not be effected or may not achieve the desired objectives.

The forward-looking statements in this release do not include the potential impact of any acquisitions or divestitures that may be announced and/or completed after the date hereof.

More information about factors that could affect the company's operating results is included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, copies of which may be obtained by visiting the company's Investor Relations website at https://investors.ebayinc.com or the SEC's website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to the company on the date hereof. The company assumes no obligation to update such statements.