Q3 26 EPS Adjusted
$1.60
BEAT +6.24%
Est. $1.51
Q3 26 Revenue
$3.13B
BEAT +3.88%
Est. $3.02B
vs S&P Since Q3 26
-6.9%
TRAILING MARKET
EBAY -6.3% vs S&P +0.6%
Market Reaction
Did EBAY Beat Earnings? Q3 2026 Results
eBay turned in a strong third quarter of fiscal 2026, beating Wall Street expectations on both the top and bottom lines and extending its streak of consensus EPS beats to four consecutive quarters. The company reported adjusted non-GAAP EPS of $1.60,… Read more eBay turned in a strong third quarter of fiscal 2026, beating Wall Street expectations on both the top and bottom lines and extending its streak of consensus EPS beats to four consecutive quarters. The company reported adjusted non-GAAP EPS of $1.60, ahead of the $1.51 consensus estimate by 6.24%, while revenue climbed 14.8% year over year to $3.13 billion, topping the $3.02 billion estimate by 3.88%. The headline numbers were powered by robust gross merchandise volume growth of 15% to $22.40 billion, with U.S. GMV alone rising 24% year over year, and advertising revenue reaching $596.00 million, or roughly 2.7% of GMV. The July 30 closing of eBay's $1.40 billion acquisition of Depop, the Gen Z-focused fashion resale marketplace, marked a significant strategic shift toward circular commerce, though the deal prompted at least one analyst downgrade on concerns about its impact on future earnings. Looking ahead, eBay guided Q3 2026 revenue of $3.07 billion to $3.12 billion and non-GAAP EPS of $1.36 to $1.42, while raising its full-year outlook on the strength of its underlying business momentum.
Key Takeaways
- • 15% GMV growth (14% FX-neutral) to $22.4 billion
- • U.S. GMV grew 24% year-over-year to $11.7 billion
- • First-party advertising revenue grew 25% (24% FX-neutral)
- • eBay Live posted record quarter with GMV growing roughly 8x year-over-year
- • GAAP operating margin expanded to 21.6% from 17.6%
- • Active buyers grew 2% year-over-year to 136 million
- • 44% of revenue from international markets
EBAY Forward Guidance & Outlook
For Q3 2026, eBay guided revenue of $3.07-$3.12 billion (FX-neutral Y/Y growth of 8%-10%), GMV of $22.0-$22.4 billion (FX-neutral Y/Y growth of 10%-12%), GAAP diluted EPS of $0.94-$0.99, and non-GAAP diluted EPS of $1.36-$1.42. This guidance includes the expected impact from the Depop acquisition which closed July 30, 2026. The company noted it is increasing its full-year top- and bottom-line outlook given strong business momentum.
EBAY YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
EBAY Revenue by Segment
With YoY comparisons, source: SEC Filings
EBAY Revenue by Geography
Regional revenue distribution
“eBay's second quarter delivered meaningful, broad-based momentum driven by continued innovation and focused execution against our strategic roadmap. This quarter once again demonstrated our ability to focus on our strategic priorities while still delivering strong growth in operating income and EPS.”
— Jamie Iannone, Q3 2026 Earnings Press Release
EBAY Earnings Trends
EBAY vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
EBAY EPS Trend
Earnings per share: estimate vs actual
EBAY Revenue Trend
Quarterly revenue: estimate vs actual
EBAY Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $1.51 | $1.60 | +6.24% | $3.13B | +3.88% |
| Q1 26 BEAT | $1.58 | $1.66 | +5.06% | $3.09B | — |
| Q4 25 BEAT FY | $1.35 | $1.41 | +4.44% | $2.97B | +3.15% |
| FY Full Year | $5.46 | $5.52 | +1.04% | $11.10B | +0.76% |
| Q3 25 BEAT | $1.33 | $1.36 | +1.90% | $2.82B | +3.27% |
| Q2 25 BEAT | $1.30 | $1.37 | +5.63% | $2.73B | +3.38% |
| Q1 25 BEAT | $1.34 | $1.38 | +3.23% | $2.59B | +1.50% |