eBay reported a blowout Q1 2026 with GMV up 14%, revenue up 17%, and EPS up 21%, driven by broad-based strength across categories, especially collectibles and motors. The company raised full-year guidance, but cautioned that Q2 will see a deceleration due to lapping difficult comparables and a transitory bullion demand boom. Q1 GMV grew 14% to $22.2bn, revenue grew 17% to $3.09bn, and non-GAAP EPS grew 21% to $1.66, all exceeding guidance.
eBay reported a blowout Q1 2026 with GMV up 14%, revenue up 17%, and EPS up 21%, driven by broad-based strength across categories, especially collectibles and motors. The company raised full-year guidance, but cautioned that Q2 will see a deceleration due to lapping difficult comparables and a transitory bullion demand boom. Q1 GMV grew 14% to $22.2bn, revenue grew 17% to $3.09bn, and non-GAAP EPS grew 21% to $1.66, all exceeding guidance.
eBay reported a blowout Q1 2026 with GMV up 14%, revenue up 17%, and EPS up 21%, driven by broad-based strength across categories, especially collectibles and motors. The company raised full-year guidance, but cautioned that Q2 will see a deceleration due to lapping difficult…
Management is embedding AI into core marketplace experiences, citing the magical listing tool driving over 50% increase in new listing creation rate and double-digit increases in sold items/GMV per lister, and an agentic search beta showing 50% more search engagement and…
Management is embedding AI into core marketplace experiences, citing the magical listing tool driving over 50% increase in new listing creation rate and double-digit increases in sold items/GMV per lister, and an agentic search beta showing 50% more search engagement and…
Strategic priorities (focus categories, C2C, re-commerce) now represent ~70% of GMV and grew in the high-teens.
Management is embedding AI into core marketplace experiences, citing the magical listing tool driving over 50% increase in new listing creation rate and double-digit increases in sold items/GMV per lister, and an agentic search beta showing 50% more search engagement and double-digit purchase behavior increases. They view AI as a structural tailwind and are expanding these tools to more markets an
C2C momentum strong; U.S., U.K., Germany double-digit growth. Management repeatedly highlighted broad-based growth acceleration, record achievements (e.g., most valuable trading card sold, eBay Live records), and raised full-year guidance, while acknowledging macro challenges but expressing confidence in momentum and strategic execution.
Capital expenditures are forecast at 4-5% of revenue for 2026, with management continuing to invest in AI capabilities, tech stack, and strategic priorities while balancing this with operating leverage and efficiency gains.
Management repeatedly highlighted broad-based growth acceleration, record achievements (e.g., most valuable trading card sold, eBay Live records), and raised full-year guidance, while acknowledging macro challenges but expressing confidence in momentum and strategic execution.
“We also saw a transitory benefit to GMV growth from gold and silver bullion in response to precious metal prices, but this demand began to normalize in late Q1 as expected and should revert to historical levels in Q2.”
“Golden facilitated several landmark sales during the quarter, including a Pokemon Pikachu Illustrator card that sold for over $16 million, officially becoming the most valuable trading card ever sold at auction.”
“We also saw cross-border growth recover across key regions like Greater China and Japan, reinforcing the benefits of our investments and shipping solutions, which are making it easier for buyers and sellers to transact globally amid a more…”
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| EPS | FY2026 Q2 | $1.46–$1.51 | $1.48 | GUIDED |
| Op margin | FY2026 Q2 | 27.6%–28.1% | 27.85% | GUIDED |
| Revenue | FY2026 | 7%–7.5% | 7.25% | RAISED |
| Revenue | FY2026 Q2 | $2.97B–$3.03B | $3B | GUIDED |
| 제시 시점 | 지표 | 목표 기간 | 가이던스 | 실제 | 결과 |
|---|---|---|---|---|---|
| FY2025 Q4 | EPS | FY2026 Q1 | $1.53–$1.59 | $1.66 | Met / beat |
| FY2025 Q4 | Op margin | FY2026 Q1 | 28.3%–29.2% | 19.78% | Missed |
| FY2025 Q4 | Revenue | FY2026 Q1 | $3B–$3.05B | $3.089B | Met / beat |
The integration with Facebook Marketplace is now broadly available, giving eBay access to a larger audience, potentially driving qualified traffic to sellers.
“Following a successful pilot of eBay inventory and Facebook marketplace search results last quarter, this integration has transitioned to general availability.”
… translating into double-digit percentage increases in purchase behavior. These innovations are just two examples of our transition to an AI native marketplace. By embedding these capabilities into the core of our platform, we are fundamentally changing the pace at which we can remove friction, unlock supply, and drive long-term value for our enthusiasts. We are also extending the reach of our marketplace through partnerships. Following a successful pilot of eBay inventory and Facebook marketplace search results last quarter, this integration has transitioned to general availability. eBay inventory is now enabled in the search box for the majority of Facebook marketplace users in the U.S., Germany, and France. This integration further enhances the visibility of our differentiated inventory to Facebook's scaled audience, which can drive qualified, incremental traffic to our sellers' eBay listings. Our search integration complements our existing presence in the marketplace feed for a subset of users, where we continue to iterate on the experience and gather valuable learnings. Now turning to shipping. Shipping solutions are a major focus for us this year as we leverage our …
eBay is partnering with direct brands like Marks & Spencer to expand its live shopping offerings.
“In March, we held our first direct-from-brand live shopping event with Marks & Spencer in the UK.”
… like the latest generation of magical listing experience, are making it dramatically simpler for sellers to list pre-loved fashion items on eBay, helping drive a mid-teens, year-over-year increase in casual fashion listers in Q1. At the same time, we are strengthening our position in fashion by using community to build greater awareness and consideration with enthusiasts. eBay Live is becoming a meaningful driver of GMV in certain fashion categories. And in March, we held our first direct-from-brand live shopping event with Marks & Spencer in the UK. Our second annual Vogue Vintage Market events in the US and UK were another strong example of how curated events elevate eBay's relevance in pre-loved fashion. We are consistently showing up at the cultural moments that matter most to fashion enthusiasts, including the Grammys, the Oscars, and Berlin Fashion Week during Q1. We've also driven engagement through our sponsorships of the new Saturday Night Live and Love Island All-Stars programming in the UK. Taken together, these efforts are making eBay a more compelling destination for enthusiasts and helped accelerate overall fashion GMV growth in Q1, including healthy double-digit …