eBay Inc. Q1 2026 Earnings Recap

Shares of eBay closed +3.1% higher after reporting first quarter results that exceeded previously communicated guidance, highlighted by broad-based gross merchandise volume (GMV) acceleration and double-digit growth in both revenue and non-GAAP operating income. Strong performance across core categories—particularly collectibles and motors—drove the upside surprise.

Key Takeaways

• GMV rose 14% year-over-year to over $22 billion, with revenue up 17% to more than $3 billion; non-GAAP operating income increased 18% to over $900 million.
• Non-GAAP earnings per share grew 21% to $1.66, reflecting significant leverage on top-line results.
• Collectibles led category growth, with GMV up 24% and notable contributions from the 30th anniversary of Pokémon and strong trading card demand.
• Motors, parts & accessories posted its fastest GMV growth since 2021, aided by expansion of the Guaranteed Fit program and recent acquisitions to deepen inventory and service capabilities.
• Management noted growth was broad-based geographically and across strategic priorities, with all focus areas outpacing overall GMV expansion in Q1.