eBay Reports Strong Q2 2026 Growth, Completes Depop Acquisition — eBay Inc.

Event summary

eBay reported Q2 2026 revenue of $3.1 billion, up 15% year-over-year.
Gross Merchandise Volume (GMV) reached $22.4 billion, also up 15%.
Completed the acquisition of Depop for $1.4 billion on July 30, 2026.
Non-GAAP operating margins increased to 28.5% from 28.3% year-over-year.
Returned $448 million to stockholders through share repurchases and dividends.

The big picture

eBay's strong Q2 2026 results underscore its strategic focus on high-growth categories like collectibles, luxury resale, and recommerce. The completion of the Depop acquisition positions eBay to capture a larger share of the Gen Z and Millennial fashion market, while also reinforcing its leadership in circular fashion. The company's ability to sustain double-digit revenue growth and maintain high operating margins will be critical as it navigates the integration of Depop and continues to invest in AI-powered tools and buyer protections.

What we're watching

Integration Challenges: How eBay will integrate Depop's Gen Z and Millennial audience into its existing platform.
Sustainability Focus: Whether eBay can maintain momentum in circular fashion and recommerce post-Depop acquisition.
Market Expansion: The pace at which eBay can expand its Authenticity Guarantee and other premium services globally.