Q1 2026 eBay Inc Earnings Call Transcript
Key Points
- eBay Inc (EBAY) reported a strong start to 2026, exceeding guidance and consensus estimates across the board.
- Gross merchandise volume (GMV) rose by 14% to over $22 billion, while revenue grew 17% to more than $3 billion.
- The company's strategic priorities, including focused categories, consumer-to-consumer (C2C) business, and e-commerce, now make up approximately 70% of total GMV and grew in the high-teens year over year.
- eBay Live continues to scale rapidly, with an annual GMV run rate more than 8 times higher year over year.
- The company is leveraging AI to enhance user experience, resulting in a 50% increase in new listing creation rate and double-digit percentage increases in sold items and GMV per lister.
- Despite strong performance, eBay Inc (EBAY) faces ongoing macroeconomic and geopolitical uncertainty across many major markets.
- International GMV growth remains challenging due to macroeconomic conditions in key markets like Europe.
- Transaction losses increased in Q1, reflecting newer shipping programs and customer experience enhancements.
- The pending acquisition of Depop is expected to dilute non-GAAP earnings per share growth by low-single digits.
- The company anticipates a non-GAAP tax rate of 17.5% for the full year, which is 1 percentage point higher than in 2025.
Good day, everyone. My name is Megan, and I'll be your conference operator today. At this time, I would like to welcome you to the eBay first-quarter 2026 earnings call. (Operator instructions)
At this time, I would like to turn the call over to John Egbert, Vice President of Investor Relations.
Good afternoon. Thank you, all, for joining us for eBay's first-quarter 2026 earnings conference call. Joining me today on the call are Jamie Iannone, our Chief Executive Officer; and Peggy Alford, our Chief Financial Officer. We're providing a slide presentation to accompany our commentary during the call, which is available through the Investor Relations section of the eBay website at investors.ebayinc.com.
Before we begin, I'll remind you that during this conference call, we will discuss certain non-GAAP measures related to our performance. You can find the reconciliation of these measures to the nearest comparable GAAP measures in our accompanying slide presentation.
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