eBay Inc. · EBAY · FY2024 Q2 · Calendar Q3 2024

eBay pairs modest GMV growth with advertising and AI progress

The quarter supports a measured version of the growth thesis: focus categories, advertising and AI tools are contributing to engagement and monetization, while the magnitude and durability of AI-led GMV and margin gains remain unproven.

Reported After market closeNASDAQConsumer Cyclical $52.79B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.18 Consensus $1.13
EPS surprise +4.4% Reported versus consensus
Reported revenue $2.58B Consensus $2.53B
Revenue surprise +2.0% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +1.1% Event window
SPY move -1.4% Same window
Abnormal move +2.5% Stock minus SPY
Volume 2.0× Versus trailing sessions
Subsequent drift +4.2% Up to 20 sessions
EBAYSPY benchmark

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What changed

Compared with the prior quarter, eBay moved from flat GMV to positive GMV growth, reported continued focus-category momentum, launched additional AI and payment capabilities, and maintained its outlook while increasing shareholder returns.

Guidance delta

Management maintained its outlook; Q3 guidance called for modest GMV growth of -1% to +1% on an FX-neutral basis and EPS growth of 12% to 17% year over year.

Key takeaways

  • Q2 GMV rose 1% to $18.4 billion, while revenue increased 2% to $2.57 billion and non-GAAP EPS rose 15% to $1.18.
  • Focus categories including collectibles, refurbished goods and luxury supported growth amid macro pressure.
  • Advertising revenue increased 8% to $398 million, with AI-powered campaign tools intended to improve adoption.
  • AI listing tools reported 90%+ customer-satisfaction scores and reduced listing time, but their GMV and margin impact remains to be quantified.

Management priorities

  • Expand generative-AI listing tools across more categories and markets.
  • Deepen the PSA partnership and broaden the PSA storefront.
  • Develop advertising tools, promoted offsite and promoted stores adoption.
  • Expand payment options and seller-capital products.

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Earnings History

Estimate Beat Miss Match
EBAY REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q1 '24 estimate $3B Q1 '24 actual $3B, beat Q2 '24 estimate $3B Q2 '24 actual $3B, beat Q3 '24 estimate $3B Q3 '24 actual $3B, beat Q2 '25 estimate $3B Q2 '25 actual $3B, beat Q3 '25 estimate $3B Q3 '25 actual $3B, beat Q4 '25 estimate $3B Q4 '25 actual $3B, beat Q1 '26 estimate $3B Q1 '26 actual $3B, beat Q2 '26 estimate $3B Q2 '26 actual $3B, beat Q3 '26 estimate $3B Q4 '26 estimate $3B Q1 '27 estimate $3B
Show 1 more >

Analyst Consensus ?

ConsensusHold67 ratings
Bullish3247.8%
Neutral3349.2%
Bearish23.0%

Analyst 52W Price Targets

$118.62Current
$36Low
$91.62Average
$145High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 27, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Wells Fargo Underweight UnderweightMaintainOct 12, 2026
Morgan Stanley Overweight OverweightMaintainOct 12, 2026
StoneX Buy BuyMaintainSep 14, 2026
Wedbush Outperform OutperformMaintainAug 20, 2026
Citigroup Buy BuyMaintainAug 13, 2026
Show 62 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $118.62. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Morgan StanleyNathan Feather$132$112.19 +11.3%Oct 12, 2026
Wells FargoKen Gawrelski$91$112.19 -23.3%Oct 12, 2026
WedbushYgal Arounian$137$104.51 +15.5%Aug 20, 2026
UBSStephen Ju$120$106.51 +1.2%Aug 11, 2026
Argus ResearchJoseph Bonner$133$114.13 +12.1%Aug 7, 2026
See 116 more

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Company context

Snapshot as of publication

eBay Inc. manages an extensive global e-commerce ecosystem designed to facilitate transactions between buyers and sellers. This framework primarily encompasses its flagship website, ebay.com, alongside its suite of dedicated mobile applications. Through these digital platforms, users are empowered to list, discover, purchase, and pay for a vast array of goods. These transactions occur across a multitude of channels—online, mobile, and even certain traditional avenues—involving a diverse array of participants. This includes individual sellers, small businesses, and larger entities such as retailers, distributors, liquidators, import/export firms, and auctioneers, often integrating with various commerce platforms, search engines, and shopping networks. The company was established in 1995 and its corporate headquarters are situated in San Jose, California.

Historical context

All EBAY earnings

Consumer Cyclical peers this season

Latest reports in the same sector
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DECK Deckers Outdoor Corporation FY2027 Q2 · Calendar Q4 2026 +13.4% -0.2% Deckers raises FY2027 outlook as HOKA and UGG drive growth
TSCO Tractor Supply Company FY2026 Q3 · Calendar Q4 2026 +5.3% +6.2% Tractor Supply Q3: Pet and Digital Momentum Supports Margin Plan
PHM PulteGroup, Inc. FY2026 Q3 · Calendar Q4 2026 -4.5% +5.8% PulteGroup Holds Guidance as Buyer Traffic Slows

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
  3. Polygon adjusted daily market bars · 2026-10-27T03:10:43.909227+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-27T03:10:43.906430+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-27. For educational purposes only; not investment advice.