eBay Q2 FY2026: revenue up 15.0%, EPS beats, Q3 guide sits below Q2
eBay's Q2 FY2026 was a strong quarter with a quieter quarter already baked into guidance: revenue rose 15.0% to $3.13 billion and non-GAAP EPS of $1.60 beat the $1.5356 consensus, yet Q3 revenue is guided to $3.07-$3.12 billion, below the $3.13 billion just reported. Read the quarter as a margin-and-EPS story, and the guidance as a sign growth is cooling.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS from continuing operations was $1.21, up 56% from $0.78, while non-GAAP EPS of $1.60 beat the $1.5356 consensus estimate by about 4.2%. The reason the two EPS numbers differ is that non-GAAP net income of $727 million adds back $217 million of operating adjustments, mostly stock-based compensation, plus a $40 million tax adjustment, to GAAP net income of $552 million from continuing operations. Note that on the stricter GAAP line, $1.21 is below the $1.5356 consensus figure.
Revenue was $3.13 billion, up 15.0% from $2.73 billion a year earlier, and gross margin improved to 73.5% from 72.5%. The company's advertising offerings contributed $596 million of that revenue, or 2.7% of gross merchandise volume. Revenue has now risen for five straight reported quarters, from $2.73 billion to $2.82 billion to $2.97 billion to $3.09 billion to $3.13 billion.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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