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eBay
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Latest analysis
Updated Aug 6, 2026
eBay Q2 2026: GMV and revenue each accelerate 15% YoY as advertising surges 24% and Depop closes at $1.4B
eBay's Q2 2026 results mark a decisive acceleration: GMV reached $22.4 billion (+15% reported, +14% FX-neutral), driven by C2C outpacing B2C across the US, UK, and Germany, with Focus Categories including Collectibles, Motors Parts & Accessories, Fashion, and Refurbished Goods leading the marketplace. Advertising revenue grew 24% to $596 million, fueled by first-party ad penetration gains and attribution changes that enhanced monetization. The $1.4 billion Depop acquisition, which closed July 30, 2026, materially expands eBay's C2C fashion exposure and represents the most consequential strategic move of the cycle.
Tone: bullishRevenue
$11.1B
EBAY 10-K · FY 2025
Revenue FY2024
$10.3B
Founded
1995
Headquarters
San Jose, CA
Profile
EBAY 10-K Item 1 · Feb 19, 2026eBay Inc. operates online marketplace platforms that connect buyers and sellers globally across a wide range of product categories, including collectibles, motor parts and accessories, refurbished goods, and authenticated luxury items. The company generates revenue primarily through transaction fees, advertising products such as Promoted Listings, and ancillary payments and financial services. eBay operates internationally and derives a meaningful share of revenue from cross-border trade.
Read filing description ↓ Collapse description ↑
eBay Inc. operates global online marketplace platforms that facilitate buying and selling across numerous product categories and geographies. The company's strategy has increasingly emphasized Focus Categories, including motor parts and accessories, collectibles, refurbished goods, and authenticated luxury items, which attract buyers and sellers with unique product and service needs. eBay competes across factors including buyer and seller trust, inventory breadth and relevance, user experience, platform reliability, delivery and payment reliability, and advertising capabilities. The company generates revenue from paid transactions, first-party advertising through products such as Promoted Listings, and payments and financial services offerings. eBay's business is subject to significant variation in GMV and net revenues on a quarterly basis, driven by consumer confidence, discretionary spending trends, competitive dynamics, and the success of product launches. The company operates internationally and cross-border trade represents an important source of revenue and profit, making it sensitive to changes in global trade policies. eBay competes with a wide range of businesses including traditional retailers, general e-commerce marketplaces, social media platforms, live commerce ventures, AI-powered shopping tools, and specialist marketplaces. The company faces competitive pressure from significantly larger platform ecosystems operated by companies such as Alibaba, Alphabet, Amazon, Apple, and Meta.
Primary products
- Marketplace platforms
- Promoted Listings
- Payments and financial services
End markets
Named competitors
“While we believe we compete effectively across these factors, our competitors, including any of the businesses, channels and buying and selling alternatives discussed below, may be more successful across these factors either globally or in important geographies, which would reduce the number of buyers and sellers on our Marketplace platforms and could materially adversely affect our business and results of operations.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Net revenues increased from $10,283 million in 2024 to $11,100 million in 2025, as shown in the Consolidated Statement of Income.
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