eBay Smashes Q3 Expectations, Delivers Strong Results Across Key Categories
eBay has delivered a stellar performance in the third quarter of 2026, exceeding consensus expectations and outperforming its guidance ranges. The company's key financial measures have shown significant growth, with gross merchandise volume (GMV) increasing by 13% to over $23 billion, revenue growing 11% to $3.2 billion, and non-GAAP operating income and earnings per share experiencing nearly 12% year-over-year growth.
The broad-based outperformance across categories, geographies, and customer segments is a testament to the company's strategic priorities, including focus categories, consumer-to-consumer (C2C) commerce, and recommerce. These areas have seen GMV growth of approximately 20% in aggregate, now accounting for 72% of total GMV excluding Depop.
Focus category GMV has grown by an impressive 24% in Q3, led by collectibles, eBay Motors, fashion, and refurbished goods. The continued momentum reflects years of strategic investment in category-specific innovation, trust, selection, community, and tailored selling and buying experiences for customers.
Collectibles have been a standout performer, with trading cards maintaining strong GMV growth despite increasingly difficult year-over-year comparisons. Pokémon's 30th anniversary releases supported continued growth in collectible card games, while major summer events and the fall sports calendar drove healthy demand for sports trading cards.
The National Sports Collectors Convention in Chicago showcased eBay's commitment to the collectibles space, with record usage of its AI-powered card scanning tool. The tool has now surpassed 130 million scans and has been expanded to the U.K., along with the addition of proprietary transaction data from TCGplayer and Goldin to the tool's price guide.
Authenticity Guarantee has also seen significant expansion, with lower-priced trading cards in the U.S. and U.K. now eligible for the service. In the U.S., this change increased the number of sold items eligible for Authenticity Guarantee by more than 20%, as well as making those items eligible for grading add-on and vault storage services offered through its partnership with PSA.
eBay's emerging growth vectors, such as eBay Live and Vehicles, are also contributing meaningfully each quarter, while Depop has accelerated materially and contributed to total FXN GMV growth of nearly 16% year-over-year in Q3. Overall, the company's performance is a testament to its ability to drive growth across multiple categories and segments.
