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Equity
eBay Inc. (EBAY) perpetual futures
EBAY perpetual futures on 17 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade EBAYUSDT.
eBay Inc. operates a global e-commerce platform connecting buyers and sellers through its website and mobile apps.
$120.72-0.1%NASDAQ closed
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venue perp mark · Deepcoin (EBAY/USDT)
Auto: highest-volume live perp venueOpen in TradingView
Trading data
Perpetual market activity
17/17 live markets
Trading data
Perpetual market activity
Venues
17
Live markets
17/17
24h volume
$6MCoverage: 16/17 marketsExchange-reported volume: $6.7M
Open interest
$1.8MCoverage: 15/17 markets
Best liquidity
$234.2K
Bitget
Tightest spread
+0.8 bps
Bitget
Highest volume
$4M
Deepcoin
Settlement mix
USDT · 14/17
Perp/spot vol.
0.02x
Spot volume $343.3M
OI / float
0.00%
Float $47.7B
Spot performance
1D+0.65%
5D-1.05%
1M-1.62%
6M+4.12%
YTD+38.83%
1Y+47.18%
Venue matrix
17 markets
Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.
| Trade | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
 KuCoin | Trade | EBAY/USDT | Trading | $120.72 | 0.0% APR 0.000% every 8h | +19.9 bps | $6.5K | $449.5K | $2.4K | USDT | 20x | |
 Ourbit | Trade | EBAY/USDT | Trading | $120.72 | 0.0% APR 0.000% every 8h | +4.1 bps | $211.3K | $446.1K | $193.5K | USDT | 50x | |
 Binance | Trade | EBAY/USDT | Trading | $120.74 | 0.0% APR 0.000% every 8h | +4.1 bps | $40K | $266.1K | $352.5K | USDT | - | |
 LBank | Trade | EBAY/USDT | Trading | $120.74 | 0.0% APR 0.000% every 8h | +4.1 bps | $77.9K | $189.8K | $83.7K | USDT | 50x | |
 XT.com | Trade | EBAY/USDT | Trading | $120.66 | -11.1% APR -0.010% every 8h | +4.1 bps | $53.8K | $166.5K | - | USDT | 20x | |
 Bybit | Trade | EBAY/USDT | Trading | $120.75 | 0.0% APR 0.000% every 8h | +25.7 bps | $11K | $104.8K | $59.4K | USDT | 25x | |
 MEXC | Trade | EBAY/USDT | Trading | $120.71 | 0.0% APR 0.000% every 8h | +4.1 bps | $21.8K | $104.6K | $504.4K | USDT | 50x | |
 Variational | Trade | EBAY/USDC | Trading | $120.66 | 0.0% APR 0.000% every 8h | +13.4 bps | no public depth feed | $101.1K | $63.1K | USDC | - | |
 Bitget | Trade | EBAY/USDT | Trading | $120.72 | 0.0% APR 0.000% every 8h | +0.8 bps | $234.2K | $92.6K | $131.3K | USDT | 20x | |
 Bitunix | Trade | EBAY/USDT | Trading | $120.72 | +1.3% APR +0.00116% every 8h | +20.7 bps | $83.4K | $79.7K | $25.8K | USDT | 20x | |
 HTX | Trade | EBAY/USDT | Trading | $120.78 | 0.0% APR 0.000% every 8h | +28.1 bps | $29.1K | $7.8K | $7K | USDT | - | |
 Hyperliquid HIP-3 | Trade | xyz:EBAY | Trading | $120.69 | +5.6% APR +0.00064% every 1h | +19.1 bps | - | $3.3K | $236.4K | USDC | 10x | |
 Gate.io | Trade | EBAY/USDT | Trading | $120.67 | 0.0% APR 0.000% every 8h | +67.0 bps | $14.2K | $594 | $97.2K | USDT | 20x | |
 Aster | Trade | EBAYUSDT | Trading | $120.78 | 0.0% APR 0.000% every 8h | +50.5 bps | $29K | $530.6 | $70.5K | USDT | - | |
 Crypto.com Exchange | Trade | EBAY/USD | Trading | $120.79 | +5.0% APR +0.00057% every 1h | +13.3 bps | $6.5K | $0 | $683.7 | USD | 50x | |
 Deepcoin | Trade | EBAY/USDT | Trading | $120.74 | - | +4.1 bps | $15.4K | $4M | - | USDT | 25x | |
 BingX | Trade | EBAY-USDT | Trading | $120.72 | -5.5% APR -0.00500% every 8h | +5.0 bps | $58.1K | $724.4K⚠ | $1.1K | USDT | - |
Unverified volume: implausibly high against open interest, a typical sign of wash trading. These venues are listed last.
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100k
Tradability
Execution quality
Entry cost and depth per venue at $1k–$100kBroad liquidity · 13 of 17 venues absorb $10k · Typical cost: +27.5 bps – +50.4 bps
Cheapest execution: Bitget · +16.6 bps
Too thin: Deepcoin, Crypto.com Exchange, KuCoin
No fresh book data: Variational
Taker execution estimate incl. approx. fees - maker fills are not guaranteed.
Best venues for this underlying
Best liquidity
EBAYTightest spread
EBAYHighest volume
EBAYFunding history
Stored venue snapshots by market
Funding history
Stored venue snapshots by marketNext catalyst
Catalysts
Next catalyst
Catalysts
Earnings
2027-02-17
Revenue est. $3.23B · Updated 3h ago
Dividend
$0.31
2026-12-04
No unusual perp activity right now.
Reference data
Market context
Reference data
Market context
NASDAQ
Extended-hours reference
Bid118.88
Ask125
Volume2,843,906
Research data
Analysts, filings and peer context
Research data
Analysts, filings and peer context
Estimates
6DateEPS estimateRevenue estimateGrowthAnalysts
FY 20266.29$12.7B+14%20
FY 20276.89$13.6B+7%20
FY 20287.86$14.5B+7%16
FY 20298.93$15.4B+6%13
FY 203010.87$16.7B+9%13
Q1 20271.70$3.3B+7%11
Source: FMP · Consensus
Company events
62027-02-17EarningsActual - / Estimate 1.51-
2026-12-04Dividend$0.31-
2026-10-28Earnings · After market closeActual 1.51 / Estimate 1.41Beat
2026-08-28Dividend$0.31-
2026-08-05EarningsActual 1.60 / Estimate 1.50Beat
2026-05-29Dividend$0.31-
Peer comparison
Similar listed perpsRevenue mix
Latest annualUNITED STATESGeographic$5.8B
UNITED KINGDOMGeographic$1.6B
Rest of WorldGeographic$1.5B
Analysts
Price targets in USD| Consensus rating | Buy |
|---|---|
| Average 12-month price target | $132.57 |
| 12-month target range (low – high) | $106 – $153 |
| Ratings in the provider's consensus | 71 |
Price targets as of 2026-11-15
Analyst rating history
Ratings| Month | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| Nov 2026 | 4 | 8 | 18 | 2 | 0 |
| Oct 2026 | 4 | 8 | 18 | 3 | 1 |
| Sep 2026 | 4 | 8 | 17 | 3 | 1 |
| Aug 2026 | 5 | 8 | 18 | 3 | 1 |
| Jul 2026 | 5 | 6 | 19 | 2 | 0 |
| Jun 2026 | 5 | 5 | 20 | 2 | 0 |
| May 2026 | 5 | 5 | 22 | 2 | 1 |
| Apr 2026 | 5 | 5 | 22 | 1 | 1 |
| Mar 2026 | 5 | 5 | 22 | 1 | 1 |
| Feb 2026 | 5 | 5 | 22 | 2 | 1 |
| Jan 2026 | 5 | 5 | 21 | 2 | 1 |
| Dec 2025 | 5 | 5 | 21 | 2 | 1 |
Ownership
Institutional · 2026-Q2Free float90%394.9M shares
Shares outstanding439M shares
Institutional92.2%1,355 investors
Investor count change+44
Reference market activity
EBAY-PERPDay range (Nov 13)$120.35$122.4
52 week$78.03$127.74
Spot volume2.8M
Average volume-
Price performance
111D+0.6%
5D-1.0%
1M-1.6%
3M+17.2%
6M+4.1%
YTD+38.8%
1Y+47.2%
3Y+197.7%
5Y+62.9%
10Y+324.4%
MAX+14,454.8%
Insider activity
FY2026 Q4Acquisitions5 transactions63,426 shares
Dispositions20 transactions182,221 shares
Purchases0Ratio 0.25
Sales18
Insider transactions
25DateReporting persontransactionssharesPriceFilings
eBay officer Boone Cornelius exercised 31,000 options at $44.37, converting them into 31,000 common shares, then sold those 31,000 shares at $123.37.
eBay officer Julie A. Loeger exercised 31,766 options into common stock and sold 41,649 shares at $122.98–$123.13, leaving 112,850 shares owned.
eBay director and CEO Jamie Iannone sold 22,220 Common Stock shares in 9 open-market sales at $121.67-$126.94 on Nov 5-6, 2026, leaving 192,939 shares owned.
eBay officer Rebecca Spencer sold 2,366 common shares at $121.86 on 2026-10-30, leaving 9,581 shares owned.
eBay director Chennapragada Aparna was awarded 185 shares of Common Stock at $0.00 on 2026-11-01, a grant rather than a purchase, bringing her holdings to 18,492 shares.
eBay Inc. director Perry M. Traquina received an award of 253 shares of Common Stock (code A) on 2026-11-01, leaving 89,355 shares owned. This is a grant, not a purchase.
Director Zane Rowe received a grant of 222 eBay common shares on 2026-11-01 at $0.00 under an A-Award (compensation, not a purchase), leaving 13,466 shares held.
eBay director and CEO Jamie Iannone sold 22,220 common shares in 5 open-market sales on Oct 5-6, 2026, at prices of $105.28-$107.14, leaving 215,159 shares owned.
Filings
68 · Latest SEC filings2026-11-134Insider transaction report (Form 4)
eBay officer Boone Cornelius exercised 31,000 options at $44.37, converting them into 31,000 common shares, then sold those 31,000 shares at $123.37.
2026-11-124Insider transaction report (Form 4)
eBay officer Julie A. Loeger exercised 31,766 options into common stock and sold 41,649 shares at $122.98–$123.13, leaving 112,850 shares owned.
2026-11-094Insider transaction report (Form 4)
eBay director and CEO Jamie Iannone sold 22,220 Common Stock shares in 9 open-market sales at $121.67-$126.94 on Nov 5-6, 2026, leaving 192,939 shares owned.
2026-11-034Insider transaction report (Form 4)
eBay director Chennapragada Aparna was awarded 185 shares of Common Stock at $0.00 on 2026-11-01, a grant rather than a purchase, bringing her holdings to 18,492 shares.
2026-11-034Insider transaction report (Form 4)
eBay officer Rebecca Spencer sold 2,366 common shares at $121.86 on 2026-10-30, leaving 9,581 shares owned.
2026-11-034Insider transaction report (Form 4)
eBay Inc. director Perry M. Traquina received an award of 253 shares of Common Stock (code A) on 2026-11-01, leaving 89,355 shares owned. This is a grant, not a purchase.
2026-11-034Insider transaction report (Form 4)
Director Zane Rowe received a grant of 222 eBay common shares on 2026-11-01 at $0.00 under an A-Award (compensation, not a purchase), leaving 13,466 shares held.
2026-10-074Insider transaction report (Form 4)
eBay director and CEO Jamie Iannone sold 22,220 common shares in 5 open-market sales on Oct 5-6, 2026, at prices of $105.28-$107.14, leaving 215,159 shares owned.
2026-09-174Insider transaction report (Form 4)
eBay officer Rawashdeh Mazen converted 10,234 restricted stock units into 10,234 common shares (M-Exempt) on 2026-09-15; 5,394 shares were withheld for taxes (F-InKind) at $108.03, leaving 35,290 shares.
2026-09-174Insider transaction report (Form 4)
eBay CFO Peggy Alford converted 5,371 restricted stock units into common stock (2,467 + 2,904 shares) on 2026-09-15. She then had 2,716 shares withheld at $108.03 to cover taxes. She held 26,188 shares afterward.
2026-09-174Insider transaction report (Form 4)
eBay officer Boone Cornelius converted 8,897 restricted stock units into 8,897 common shares and had 3,379 shares withheld for taxes at $108.03, leaving 71,962 shares owned.
2026-09-174Insider transaction report (Form 4)
On 2026-09-15, eBay officer Samantha Wellington converted 3,387 restricted stock units into common shares and had 1,804 shares withheld for taxes at $108.03.
2026-09-174Insider transaction report (Form 4)
eBay officer Rebecca Spencer reported vesting/exercise of 3,574 shares of common stock from RSUs, with 1,362 shares withheld for taxes at $108.03, leaving 13,309 shares held after.
2026-09-174Insider transaction report (Form 4)
eBay CEO Jamie Iannone exercised options for 16,049 common shares and had 6,075 shares withheld for taxes at $108.03. He held 249,459 shares afterward.
2026-09-174Insider transaction report (Form 4)
eBay officer Julie A. Loeger reported converting 24,619 RSUs into Common Stock via M-Exempt exercises, with 10,610 shares withheld for taxes (F-InKind) at $108.03-$109.18. After the transactions, she owned 128,027 shares.
2026-09-174Insider transaction report (Form 4)
eBay officer Jordan Sweetnam converted 6,900 RSUs into common stock and had 3,641 shares withheld for taxes at $108.03.
2026-09-104Insider transaction report (Form 4)
eBay director and CEO Jamie Iannone sold 22,220 common shares across 11 open-market S-Sale transactions on Sept 8–9, 2026 at prices from $100.48 to $105.55, leaving 219,881 shares owned after the sales.
2026-08-204Insider transaction report (Form 4)
On 2026-08-18, eBay Inc. SVP Jordan Sweetnam sold 1,014 shares of common stock at $101.39 each, leaving 35,546 shares owned.
2026-08-184Insider transaction report (Form 4)
On Aug 15, 2026, Samantha Wellington converted 1,836 RSUs into common stock (M), then 970 shares were withheld for taxes (F) at $103.14, leaving 16,148 shares.
2026-08-184Insider transaction report (Form 4)
Jordan Douglas Bradley, SVP of eBay, converted 4,321 RSUs into common stock and had 2,294 shares withheld for taxes, leaving 32,239 shares owned.
2026-08-114Insider transaction report (Form 4)
In a Form 4 filed on 2026-08-11, eBay Inc. VP & Chief Accounting Officer Rebecca Spencer sold a total of 5,190 shares of common stock in open-market transactions on 2026-08-10, at prices ranging from $107.44 to $107.84.
2026-08-074Insider transaction report (Form 4)
eBay director and CEO Jamie Iannone sold 22,220 common shares in 12 open-market transactions on Aug 5-6, 2026 at prices from $106.97 to $113.23, leaving 242,101 shares owned.
2026-08-044Insider transaction report (Form 4)
Aparna Chennapragada, director of eBay Inc., received a grant of 198 common shares on 2026-08-01, bringing her total holdings to 18,307 shares.
2026-08-044Insider transaction report (Form 4)
eBay director Zane Rowe was granted 237 shares of common stock as compensation on 2026-08-01, bringing his total ownership to 13,244 shares.
2026-08-044Insider transaction report (Form 4)
eBay director Perry M Traquina was granted 270 shares of common stock (an award, not a purchase) at $0.00, bringing his ownership to 89,102 shares.
2026-07-084Insider transaction report (Form 4)
eBay director and CEO Jamie Iannone sold 22,220 common shares in 4 open-market sales on July 6-7, 2026 at $113.23-$115.07, leaving 264,321 shares owned.
2026-06-184Insider transaction report (Form 4)
Director William D. Nash converted 3,355 RSUs into 3,355 common shares, and was awarded 2,318 new RSUs as compensation.
2026-06-184Insider transaction report (Form 4)
Director Aparna Chennapragada converted 3,355 RSUs into 3,355 common shares and was awarded 2,318 new RSUs.
2026-06-184Insider transaction report (Form 4)
Director Logan Green converted 3,355 restricted stock units into 3,355 common shares at no cost, leaving 0 RSUs and 53,633 shares owned afterward.
2026-06-184Insider transaction report (Form 4)
Director Carol Hayles converted 3,355 RSUs into 3,355 common shares and was granted a new award of 2,318 RSUs.
2026-06-184Insider transaction report (Form 4)
Director Traquina converted 3,355 RSUs into 3,355 common shares and received an award of 2,318 RSUs.
2026-06-184Insider transaction report (Form 4)
Director Mohak Shroff converted 3,355 RSUs into 3,355 common shares and received an award of 2,318 RSUs.
2026-06-184Insider transaction report (Form 4)
eBay director Brian Sharples was awarded 2,318 new restricted stock units (RSUs-2), and separately 892 RSUs (RSUs-1) were converted into 892 common shares.
2026-06-184Insider transaction report (Form 4)
Director Paul S. Pressler converted 4,697 restricted stock units into common stock and received 3,245 RSUs as an award.
2026-06-184Insider transaction report (Form 4)
Director Adriane M. Brown converted 3,355 RSUs into 3,355 common shares, and separately received a new award of 2,318 RSUs.
2026-06-184Insider transaction report (Form 4)
Jordan Douglas Bradley Sweetnam, eBay's SVP & Chief Commercial Officer, sold 863 shares of common stock at $109.17 on 2026-06-18, leaving 34,533 shares owned afterward.
2026-06-184Insider transaction report (Form 4)
Mazen Rawashdeh, eBay's SVP & CTO, sold 1,919 common shares at $108.51 on 2026-06-17, leaving 32,124 shares owned afterward.
2026-06-184Insider transaction report (Form 4)
Director Zane Rowe converted 3,355 RSUs into 3,355 common shares (now owns 13,007 shares), and was separately awarded 2,318 new RSUs.
2026-06-184Insider transaction report (Form 4)
eBay director Ramanan Shripriya Mahesh converted 3,355 RSUs into 3,355 common shares and separately received a new award of 2,318 RSUs.
2026-06-174Insider transaction report (Form 4)
eBay's CTO Mazen Rawashdeh had 10,236 RSUs convert into 10,236 common shares; 5,410 of those shares were then withheld to cover taxes at $109.18 each, with no shares purchased.
2026-06-174Insider transaction report (Form 4)
Jordan Sweetnam converted 3,290 and 3,611 RSUs into an equal number of common shares (6,901 total), and 3,651 shares were withheld for taxes at $109.18 each.
2026-06-174Insider transaction report (Form 4)
eBay SVP & Chief People Officer Boone Cornelius converted 8,897 RSUs into 8,897 common shares, then had 3,394 shares withheld for taxes at $109.18, netting a gain of shares held directly.
2026-06-174Insider transaction report (Form 4)
eBay CFO Peggy Alford converted 46,354 RSUs into an equal number of common shares, then had 23,425 shares withheld to cover taxes at $109.18 per share.
2026-06-174Insider transaction report (Form 4)
Samantha Wellington converted 3,388 vested RSUs into an equal number of eBay common shares, and 1,808 shares were withheld to cover taxes at $109.18 per share.
2026-06-174Insider transaction report (Form 4)
Rebecca Spencer (VP, Chief Accounting Officer) had 3,577 RSUs convert into an equal number of eBay common shares, and 847 shares were withheld to cover taxes at $109.18 each.
2026-06-174Insider transaction report (Form 4)
eBay CEO Jamie Iannone converted 36,982 RSUs into an equal number of common shares (across 4 tranches), and had 19,535 shares withheld to cover taxes at $109.18/share. He now owns about 280,761 common shares.
2026-06-084Insider transaction report (Form 4)
eBay SVP and Chief People Officer Cornelius Boone sold 31,100 common shares at $109.69 on 2026-06-05, leaving 63,681 shares owned afterward.
2026-06-084Insider transaction report (Form 4)
Jamie Iannone (President & CEO) sold 22,220 shares of eBay common stock in 5 open-market transactions on June 4-5, 2026, at prices between $109.33 and $111.10. After these sales, he held 269,094 shares directly.
Transcripts
Earnings callsFY2026 Q12026-04-29
Earnings calls
AI summary
positiveeBay exceeded guidance and consensus estimates in Q1 2026 with GMV growing 14% to $22.2 billion and revenue up 17% to $3.09 billion, generating $1.66 non-GAAP EPS, up 21% year-over-year. Strategic priorities (focused categories, C2C, and e-commerce) now represent 70% of total GMV and collectively grew in the high teens. Management raised full-year 2026 GMV growth guidance to 7-7.5% and operating income growth to 9-11%, citing strong consumer resilience and robust returns on AI and marketing investments.
Key takeaways
- GMV growth accelerated across all major categories with U.S. particularly strong at 27%; focus categories grew 24% led by collectibles (Pokemon 30th anniversary and trading cards)
- Strategic priorities of focused categories, C2C, and e-commerce now comprise 70% of GMV and grew in high teens with double-digit growth for each segment individually
- eBay Live scaled 8x year-over-year with 7-market global presence; Magic Listing AI tool drove 50% increase in new listing creation and double-digit GMV per lister growth
- Advertising revenue grew 28% (first-party) with 2.6% GMV penetration; non-GAAP operating income grew 18% to $907 million with strong flow-through
Financial highlights
- Q1 GMV: $22.2 billion, +14% YoY; Revenue: $3.09 billion, +17% YoY
- Non-GAAP operating income: $907 million, +18% YoY; non-GAAP EPS: $1.66, +21% YoY
- Non-GAAP gross margin: 74.6%, up 100 bps YoY; take rate: 13.9%, up modestly YoY
- Free cash flow: $898 million in Q1; returned $639 million to shareholders via repurchases and dividends
Guidance
- Q2 2026: GMV $21.3-21.7 billion (8-10% FX-neutral growth); Revenue $2.97-3.03 billion (8-10% FX-neutral growth); non-GAAP EPS $1.46-1.51 (7-11% growth)
- Full-year 2026: GMV growth 7-7.5% FX-neutral; Revenue growth in line to slightly ahead of GMV; non-GAAP operating income growth 9-11%; non-GAAP tax rate 17.5%
- Capital allocation: $2 billion share repurchase target; capex 4-5% of revenue; quarterly dividend $0.31 per share
- Depop acquisition expected to close by end of Q3 2026; expected to contribute 1 point to GMV growth and be low single-digit operating income headwind
Q&A themes
- U.S. buyer growth of 6% and enthusiast buyer growth of 8% driven by improved value proposition, mid-value buyer expansion, and AI product innovations across categories
- Marketing investments balanced between full-funnel awareness campaigns (Grammys, Oscars, SNL sponsorship) and lower-funnel performance marketing with strong ROI; AI enabling low-cost creative generation
- C2C momentum broad-based across U.S., U.K., and Germany with Magic Listing (500M+ listings created) as key driver of 50% listing increase per seller and improved seller lifetime value
- Agentic AI viewed as structural tailwind leveraging eBay's 30 years of data, deep inventory differentiation, and trust layer; early agentic search beta showing higher engagement and new buyer acquisition
Risks
- Q2 guidance implies meaningful deceleration from Q1 due to gold/silver bullion normalization, lapping of lower-funnel marketing efficiencies and Conner partnership benefits, and tougher prior-year comparisons
- International markets facing macroeconomic headwinds in Europe partially offsetting U.S. strength; global macro uncertainty and trade policy volatility could impact forward momentum
- Depop acquisition expected to be low single-digit headwind to core operating income growth and EPS growth through 2026 including integration costs and foregone interest income
FY2025 Q42026-02-18
Earnings calls
AI summary
positiveeBay exceeded expectations in Q4 2025, achieving nearly 6% full-year GMV growth to $80 billion globally with U.S. growth of 10%, driven by focus categories, C2C, and recommerce which collectively grew 10%. The company is acquiring Depop for $1.2 billion to expand its C2C marketplace, particularly in fashion, while guiding Q1 2026 GMV growth of 10-12% and full-year operating income growth of 8-10%.
Key takeaways
- Full-year 2025 GMV grew nearly 6% to $80 billion with broad-based growth across focus categories (12% growth), C2C, and recommerce (40% of platform GMV)
- Q4 revenue grew 13% to $2.96 billion, with advertising revenue reaching $2 billion annually and take rate expanding 60 basis points year-over-year
- Acquired Depop for $1.2 billion to strengthen C2C value proposition; Depop generated ~$1 billion GMV in 2025 with 60% U.S. growth
- AI innovations including next-generation magical listing showed 25% reduction in listing time and 50% increase in new listing creation; agentic search and card scanning drove engagement
- eBay Live expanded to 7 countries with $2 million in single-event sales; Q1 2026 guidance implies 10-12% FX-neutral GMV growth
Financial highlights
- Q4 2025: GMV $21.2 billion (+8%), Revenue $2.96 billion (+13%), non-GAAP operating income $775 million (+11%), EPS $1.41 (+13%)
- Full-year 2025: GMV $80 billion (+5.8%), Revenue $11.1 billion (+6.9%), non-GAAP operating income $3.1 billion (+7%), EPS $5.52 (+13%)
- Advertising revenue $544 million in Q4 (2.6% GMV penetration); full-year advertising $2 billion; first-party ads grew 17%
- Capital returned to shareholders: $3 billion in 2025 ($756 million in Q4); targeting ~$2 billion share repurchases in 2026
Guidance
- Q1 2026: GMV $21.5-21.9 billion (FX-neutral growth 10-12%), Revenue $3.0-3.05 billion (FX-neutral growth 13-15%), Operating income growth 11-16%, EPS $1.53-1.59
- Full-year 2026: GMV growth similar to 2025 on FX-neutral basis, revenue growth in line to slightly ahead of GMV, operating income growth 8-10%
- Depop acquisition expected to close Q2 2026, contribute 1-2 percentage points to FX-neutral GMV growth in 2026; represent low single-digit headwind to core operating income growth but become accretive in 2028
- Non-GAAP tax rate increasing to 17.5% in 2026; capex 4-5% of revenue; targeting repurchases and dividends of 90-100% of free cash flow
Q&A themes
- U.S. momentum driven by focus categories, C2C, and recommerce; international markets pressured by weak macro conditions in Europe and U.S. trade policy impacts on cross-border volume
- Agentic AI and partnerships: internally building agentic search and magical listing while testing OpenAI Ads Pilot; traffic from external AI platforms currently small but high-intent; continuing inventory partnerships with Google Shopping and Facebook
- eBay Live scaling across geographies with high-profile activations; helping sellers build trust and driving new buyer acquisition; Fashion becoming significant growth driver with luxury watches
- Trading cards showing broad-based growth across sports, Pokémon despite tougher comps, and emerging games like One Piece; ASP growth driven by mix shift to higher-priced items; growth attributed to innovation not just price appreciation
Risks
- International markets facing persistent macro headwinds in Europe and continued pressure from U.S. trade policy changes and tariff impacts; return and cancellation rates stabilized but remain a take rate pressure
- Depop acquisition execution risks including integration costs, regulatory approvals, and assumption of 1-2 percentage point GMV contribution in 2026; low single-digit EPS dilution expected in 2026 before long-term accretion
- Bullion and collectible coins growth in Q4-Q1 characterized as less durable; Pokémon deceleration from triple-digit 2025 growth due to tougher year-over-year comps; lapping of Klarna partnership and marketing efficiency gains from Q2 2026
FY2025 Q32025-10-29
Earnings calls
AI summary
positiveeBay exceeded expectations in Q3 2025 with revenue growth over 8% to $2.82B, while maintaining operational discipline through reinvestment in strategic priorities like eBay Live, shipping solutions, and AI initiatives. The company faces 2026 headwinds from tough comparisons in trading cards and bullion, plus de minimis tariff impacts, but management expressed confidence in sustainable growth from focus categories, C2C expansion, and emerging businesses.
Key takeaways
- Focus categories accelerated to 15% GMV growth in Q3, with collectibles (trading cards) and motors parts & accessories driving the majority of gains
- eBay Live achieved 5x year-over-year GMV run rate growth and expanded to UK with plans for Germany; agentic AI commerce platform deployed to improve buyer discovery and seller efficiency
- U.S. market grew 13% while international grew 4% FX-neutral; de minimis tariff elimination created headwinds offset by eBay International Shipping and SpeedPAK cross-border solutions
- Non-GAAP operating margin of 27.1% included strategic reinvestments in product development, eBay Live expansion, and vehicles business; free cash flow of $803M generated in Q3
Financial highlights
- GMV grew 8% FX-neutral to $20.1 billion; revenue grew 8% FX-neutral to $2.82 billion
- Non-GAAP EPS grew 14% to $1.36; non-GAAP operating income grew 9% to $764 million
- First-party advertising revenue grew 23% to $496 million representing 2.6% of GMV penetration
- Active buyers 134 million (up 1% YoY); enthusiast buyers stable at ~16 million with spend per enthusiast at $3,200 trailing 12-month
Guidance
- Q4 2025: GMV guidance $20.5B-$20.9B (4-6% FX-neutral growth); revenue guidance $2.83B-$2.89B (8-10% FX-neutral growth)
- Q4 non-GAAP operating margin 25.8%-26.3%; non-GAAP EPS $1.31-$1.36 (5-9% YoY growth)
- 2025 full year: ~$1.5B reported free cash flow (normalized ~$2.5B excluding $935M tax payment), ~$2.5B share repurchases planned, capex 4-5% of revenue
- 2026 preliminary outlook: third consecutive year of positive FX-neutral GMV and revenue growth; anticipates ~2 points GMV headwind from lapping high trading card/bullion growth and marketing efficiency; ~1 point headwind from de minimis tariff annualization
Q&A themes
- AI integration across buyer search, seller listing (magical listings), recommendations, advertising and member-to-member messaging; agentic commerce platform enables third-party agent connectivity for personalized shopping
- Trading cards sustainable long-term despite quarterly volatility; healthy mix of new buyers, sold items, and ASP contributing to durability even as YoY growth moderates
- Vehicles business targeting $75B addressable collectible car market with Caramel secure purchase platform; low-single digit take rate expected but immaterial revenue contribution through 2025
- Halo attribution changes for advertising rolling to U.S./Canada in 2026 based on positive German market results; take rate expected to expand in 2026 from remonetization and advertising growth offset by cross-border seller pressure
Risks
- De minimis tariff elimination created ongoing headwinds; 1 point GMV growth impact expected in 2026 if current trends persist; cross-border seller monetization pressure ongoing
- Trading cards growth expected to normalize with tougher YoY comparisons in Q4 2025 and 2026; bullion/coin acceleration characterized as potentially less durable trend
- Consumer protection losses increased due to U.K. managed shipping ramp and buyer/seller fraud fluctuations; operating margin expected to decline in Q4 and 2026 due to strategic reinvestments and lower net interest income from reduced cash balance
FY2025 Q22025-07-30
Earnings calls
AI summary
positiveeBay exceeded guidance across all key metrics in Q2 2025, with GMV growing 4% to $19.5B and non-GAAP EPS growing 16% to $1.37. Focus categories accelerated to 10% growth with broad-based strength, while the U.S. outperformed expectations at 7% growth due to healthy consumer demand and successful Klarna expansion. The company is reinvesting year-to-date strength into strategic initiatives including eBay Live, geographic expansion, and AI capabilities.
Key takeaways
- Focus categories grew 10% in Q2, accelerating 2+ points sequentially with all focus categories showing sequential acceleration
- Trading cards achieved 10th consecutive quarter of YoY acceleration, with Pokemon GMV growing triple digits for second straight quarter
- U.S. GMV grew 7% driven by both unit volume and ASP growth, outpacing expectations despite tariff concerns
- First-party advertising revenue grew 17% with 2.5% GMV penetration; company has line of sight to 3% medium-term target
Financial highlights
- GMV: $19.5B, +4% YoY on FX-neutral basis; Revenue: $2.73B, +4% YoY; Non-GAAP operating income: $775M, +8% YoY
- Non-GAAP EPS: $1.37, +16% YoY; Take rate: 14%, up modestly YoY; Non-GAAP operating margin: 28.4%, +50 bps YoY
- Trailing 12-month active buyers: 134M, +1% YoY; Enthusiast buyers stable at ~16M; Spend per enthusiast buyer: ~$3,200, up YoY
- Authenticity Guarantee: 1M items inspected in Q2 (first time), 15M+ cumulative items processed; Share repurchases: $625M at $71 average price
Guidance
- Q3 2025: GMV $19.2-19.6B (3-5% FX-neutral growth); Revenue $2.69-2.74B (3-5% growth); Non-GAAP operating margin 26.6-27.1%
- Q3 Non-GAAP EPS: $1.29-1.34 (8-12% YoY growth); FY2025 GMV tracking toward high end or slightly above prior range of low single-digit growth
- FY2025 Non-GAAP operating income growth: 4-5% on reported basis; Capital expenditures: 4-5% of revenue; Non-GAAP tax rate: 16.5%
- FY2025 reported free cash flow: ~$1.5B (includes $935M tax headwind); normalized FCF expected >$2B; Share repurchase target: ~$2.5B; Non-GAAP EPS growth: 10-12% for full year
Q&A themes
- Marketing efficiency improved due to competitive dynamics in lower-funnel channels; company leveraging AI shopping assistant and agentic capabilities to position for future traffic generation
- Fashion focus category shows significant opportunity with $10B+ current volume; company investing in influencer partnerships and Gen AI discovery features, citing Met Gala success as evidence of brand momentum
- Trading cards growth characterized as non-linear but with durable long-term potential; strong recent releases may moderate but fundamental improvements to grading and experience expected to sustain category
- Tariffs and de minimis exemption impacts modest so far; Greater China sellers shifted to other markets or relied on forward-deployed inventory; ASP uplift from higher tariff replenishment offset volume declines
Risks
- Q4 faces tougher YoY comparisons from strong prior-year holiday season and expected moderation in trading cards growth as company laps strong product releases
- International markets (U.K., Germany) remain challenged by weak macro environment including low consumer confidence and minimal GDP growth expectations
- Tariff and trade policy uncertainty continues; guidance contemplates range of scenarios including potential de minimis exemption elimination on other trade corridors beyond China-U.S.
FY2025 Q12025-04-30
Earnings calls
FY2024 Q42025-02-26
Earnings calls
Company news
Reuters, WSJ, Bloomberg and FT first, as far as our news provider delivers them; other publishers behind the second filter. Headlines link to the publisher.- EBay Sales Rise on Strength in Collectibles, Live Shopping
- EBay to cut about 9% of global workforce
- EBay to Cut 9% of Workforce in Latest Round of Layoffs
- EBay to lay off 9% of workforce in push to simplify operations, internal memo shows
- UK finance minister Healey to target online marketplaces in tax crackdown, The Times reports
- EBay probes how banned gender-test kits were available in India, listings removed
- EBay Bans Air-Bag Sales Following Deaths Involving Counterfeit Parts
Company data
Company intelligence
Updated: Nov 15, 2026, 04:38 AM UTC
Company data
Company intelligence
Company profile
- Sector
- Consumer Cyclical
- Industry
- Specialty Retail
- Chief executive
- Jamie J. Iannone
- Employees
- 12,300
- IPO date
- Sep 24, 1998
- Country
- US
- Exchange
- NASDAQ Global Select
Altman Z-scorei6.47
Piotroski scorei8/9
Overall ratingiB
Owner earningsi$372.64M$0.82 per share
ESG risk ratingiBIndustry rank: 37/107
Rating factors
- Return on equityi
- 5/5
- Return on assetsi
- 5/5
- Debt to equityi
- 1/5
- Price to earningsi
- 2/5
- Price to booki
- 1/5
Company press releases
eBay Announces American Fashion Retrospective and AuctionPRNewsWireeBay Inc. Reports Second Quarter 2026 ResultsPRNewsWireEtsy Completes Sale of DepopPRNewsWireeBay Completes Acquisition of DepopPRNewsWireSuperDS Announces Expansion of Multi-Supplier Listing Automation and Inventory Management Infrastructure for eBay SellersNewsfile CorpeBay Rejects Unsolicited Proposal from GameStopPRNewsWire
Congressional disclosures
Senate
John BoozmanSale (Full) · $1,001 - $15,000Disclosed: Feb 8, 2025Thomas Hawley TubervilleSale (Full) · $1,001 - $15,000Disclosed: Jul 23, 2021Tommy TubervilleSale (Full) · $1,001 - $15,000Disclosed: Jul 23, 2021Kelly LoefflerSale (Full) · $100,001 - $250,000Disclosed: May 1, 2020David Alfred PerdueSale (Full) · $1,001 - $15,000Disclosed: Jul 28, 2015
House
Ro KhannaSale · $1,001 - $15,000Disclosed: Oct 3, 2025Lisa C. McClainSale (Full) · $1,001 - $15,000Disclosed: Aug 13, 2025Lisa McClainSale (Full) · $1,001 - $15,000Disclosed: Aug 13, 2025Lisa C. McClainSale (Full) · $1,001 - $15,000Disclosed: Aug 13, 2025Lisa C. McClainPurchase · $1,001 - $15,000Disclosed: Aug 13, 2025
Market cap history
$53.69B+16.5%Aug 2026 – Nov 2026
Latest: $53.69B · 2026-11-13High: $53.85B · 2026-10-19Low: $45.12B · 2026-08-17
Largest fund holders
| Fund | Weight | Shares held |
|---|---|---|
| VTI | 0.06% | 14.1M |
| VOO | 0.07% | 11.8M |
| VO | 0.44% | 9.6M |
| FXAIX | 0.08% | 6.1M |
| IVV | 0.06% | 5.3M |
| 1657.T | 0.05% | 5.3M |
| 1557.T | 0.07% | 4.9M |
| SPY | 0.07% | 4.9M |
| VTV | 0.17% | 4.2M |
| FCNKX | 0.23% | 3.7M |
| CDDRX | 0.75% | 3.5M |
| S5SD.L | 0.11% | 3.2M |
Analyst track record
How the analysts covering EBAY have done: ratings, price-target accuracy and the measured reaction after their calls.
| 12 months | 3 years | |
|---|---|---|
| Ratings | 131 | 425 |
| Analysts | 35 | 47 |
| Buy / hold / sell | 59 / 65 / 7 | 170 / 230 / 25 |
| Upgrades / downgrades / initiations | 3 / 2 / 5 | 10 / 6 / 12 |
| Price targets hit / missed | 75 / 47 (61%) | 346 / 47 (88%) |
| Avg. return after a rating (TipRanks) | +8.0% | +63.3% |
| Best / worst call | +100.2% / -21.5% | +243.3% / -21.5% |
After buy calls on this stock: median 21-day move +4.6% vs S&P 500 +1.3% (n = 163)
Most accurate on this stock
Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.
- Colin SebastianRobert W. Baird100% hit rate on this stock · 15 targets measuredBuytarget $135Oct 29, 2026
- Ygal ArounianWedbush100% hit rate on this stock · 15 targets measuredBuytarget $153Oct 29, 2026
- Nathan FeatherMorgan Stanley100% hit rate on this stock · 15 targets measuredBuytarget $140Oct 29, 2026
Latest ratings
| Date | Analyst | Call | Target | |
|---|---|---|---|---|
| Nov 11, 2026 | Brian PitzBMO CapitalNov 11, 2026 | BuyReiterated | $150 | |
| Nov 4, 2026 | Joseph BonnerArgus ResearchNov 4, 2026 | BuyMaintained | $138↗ | article ↗ |
| Oct 30, 2026 | Ronald JoseyCitiOct 30, 2026 | BuyMaintained | $145↗ | article ↗ |
| Oct 29, 2026 | Shyam PatilSusquehannaOct 29, 2026 | HoldMaintained | $125↗ | article ↗ |
| Oct 29, 2026 | Youssef SqualiTruist FinancialOct 29, 2026 | HoldMaintained | $133↗ | article ↗ |
Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.
TipRanks data · computed Nov 13, 2026 · 131 ratings
Frequently asked questions
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