eBay guides 2026 non-GAAP EPS to $6.25-$6.30 after 15% GMV growth

eBay set full-year 2026 ranges on 28 October 2026 for revenue of $12.62bn-$12.67bn, or 12% to 13% FX-neutral growth, gross merchandise volume (GMV) of $91.5bn-$91.9bn and diluted EPS from continuing operations of $6.25-$6.30 on a non-GAAP basis, or $4.26-$4.31 under GAAP, according to its third-quarter release. Its 5 August release had given numeric guidance for the third quarter only, although it said eBay was increasing its full-year outlook. For the fourth quarter, eBay expects revenue of $3.19bn-$3.24bn, 7% to 9% higher on an FX-neutral basis, GMV of $23.7bn-$24.1bn and diluted EPS of $1.48-$1.53 non-GAAP, or $0.82-$0.87 GAAP. In the third quarter, revenue was $3.206bn, up 14% from $2.820bn, and GMV $23.17bn, up 15%, or 16% FX-neutral.

US GMV grew 27% to $12.5bn in the quarter and international GMV 4% to $10.6bn, the release shows, so the US supplied about $2.7bn of the $3.1bn year-on-year increase by Polstob's calculation. eBay completed its $1.4bn cash purchase of Depop from Etsy on 30 July, and both the results and the outlook include it. It counted 147m active buyers, 10% more than a year earlier; excluding Depop and Tise, the Oslo-based marketplace it bought in October 2025, the figure was 136m, up 1%. First-party advertising revenue on its platform rose 16% to $575m.

Non-GAAP diluted EPS from continuing operations rose to $1.51 from $1.35 a year earlier, while GAAP EPS on the same basis fell to $1.11 from $1.27 and GAAP net income from continuing operations to $501m from $593m. The GAAP effective tax rate was 17.1%, against minus 4.3% a year earlier. Operating margins narrowed to 19.2% from 20.3% on a GAAP basis and to 26.3% from 27.0% on a non-GAAP basis. Chief financial officer Peggy Alford said the quarter showed eBay's strategy was "delivering strong GMV growth and meaningful earnings expansion", according to the release. Polstob makes no consensus comparison: the Zacks EPS history shown on Nasdaq.com matches neither eBay's GAAP nor its non-GAAP figures for the second quarter.

eBay announced on 20 October a restructuring that cuts about 9% of its global workforce, with estimated GAAP pre-tax charges of $130m-$150m, mostly severance, to be booked largely in the fourth quarter, according to a Form 8-K filed on 22 October. The same filing said third-quarter results would come in above the August guidance ranges. The fourth-quarter non-GAAP outlook excludes estimated restructuring expense of $130m-$150m. The shares closed the regular session on 28 October at $118.02. In pre-market trading on 29 October they were at $125.00 at 06:50 ET (11:50 CET), about 5.9% above that close by Polstob's calculation, according to Nasdaq.com. Pre-market prices are still moving and can change before the 09:30 ET (14:30 CET) open.