eBay Inc. · EBAY · FY2025 Q4 · Calendar Q1 2026

eBay beats estimates as AI tools and recommerce support growth

The quarter supports a constructive but conditional view: eBay’s reported growth and management’s account of AI-enabled seller and buyer improvements support the case for resilient demand, while Depop integration, international softness, accounting changes and the sustainability of some growth drivers remain important tests.

Reported After market closeNASDAQConsumer Cyclical $46.71B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.41 Consensus $1.35
EPS surprise +4.4% Reported versus consensus
Reported revenue $2.96B Consensus $2.87B
Revenue surprise +3.2% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +3.1% Event window
SPY move -0.3% Same window
Abnormal move +3.4% Stock minus SPY
Volume 3.0× Versus trailing sessions
Subsequent drift +7.1% Up to 20 sessions
EBAYSPY benchmark

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Transcript intelligence

What changed

Compared with the prior-quarter analysis, eBay reported fourth-quarter and full-year 2025 results, announced the Depop acquisition, and provided a 2026 outlook centered on 10–12% FX-neutral GMV growth. The company also highlighted broader deployment plans for AI tools, eBay Live and cross-border shipping.

Guidance delta

Maintained: management outlined 2026 FX-neutral GMV growth of 10–12% with stable capex of about 4–5% of revenue.

Key takeaways

  • Management described strong fourth-quarter and full-year 2025 performance, led by focus categories, C2C and recommerce.
  • AI tools including Magical Listings, agentic search and card scanning were presented as improving seller efficiency and buyer conversion.
  • The $1.2 billion Depop acquisition expands eBay’s C2C and circular-fashion presence but adds integration risk.
  • Management plans further expansion of eBay Live, cross-border shipping and AI tools in 2026.

Management priorities

  • Scale Magical Listings and agentic search.
  • Integrate Depop while preserving its brand experience.
  • Expand eBay Live and cross-border shipping corridors.
  • Continue investment in AI, live commerce and marketplace monetization.

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Earnings History

Estimate Beat Miss Match
EBAY EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q4 '23 estimate $1.03 Q4 '23 actual $1.07, beat Q1 '24 estimate $1.20 Q1 '24 actual $1.25, beat Q2 '24 estimate $1.13 Q2 '24 actual $1.18, beat Q3 '24 estimate $1.18 Q3 '24 actual $1.19, match Q2 '25 estimate $1.30 Q2 '25 actual $1.37, beat Q3 '25 estimate $1.33 Q3 '25 actual $1.36, beat Q4 '25 estimate $1.35 Q4 '25 actual $1.41, beat Q1 '26 estimate $1.58 Q1 '26 actual $1.66, beat Q2 '26 estimate $1.50 Q2 '26 actual $1.60, beat Q3 '26 estimate $1.41 Q4 '26 estimate $1.51 Q1 '27 estimate $1.65
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Analyst Consensus ?

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

Analyst 52W Price Targets

$105.21Previous close
$36Low
$90.89Average
$145High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 30, 2026. Not an FN2 forecast.

Firm-level rating actions

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

FirmRatingPrior ratingActionDate
StoneX Buy BuyMaintainSep 14, 2026
Wedbush Outperform OutperformMaintainAug 20, 2026
Citigroup Buy BuyMaintainAug 13, 2026
UBS Neutral NeutralMaintainAug 11, 2026
Argus Research Buy HoldUpgradeAug 7, 2026
Show 62 more rating actions

Named analyst price targets

Upside is calculated against the persisted previous close $105.21. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
WedbushYgal Arounian$137$104.51 +30.2%Aug 20, 2026
UBSStephen Ju$120$106.51 +14.1%Aug 11, 2026
Argus ResearchJoseph Bonner$133$114.13 +26.4%Aug 7, 2026
Morgan StanleyAnalyst unavailable$127$107.23 +20.7%Aug 6, 2026
Robert W. BairdAnalyst unavailable$126$110.52 +19.8%Aug 6, 2026
See 114 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

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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 · 2026-07-26T00:36:15.940040+00:00
  3. Polygon adjusted daily market bars · 2026-09-30T07:06:04.530380+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-30T07:06:04.527433+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 2026-09-30. For educational purposes only; not investment advice.