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eBay (EBAY) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 29, 2026
eBay (EBAY) reported revenue of $3.1B for the first quarter 2026 (Q1 2026), +19% from a year earlier and +4% from the quarter before. Operating margin was 19.8%, net earnings $512M (16.6% of revenue).
eBay, Q1 2026: revenue $3.1B (+20% year over year), operating margin 19.8%, net earnings $512M, operating cash flow $969M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.1B | +4% | +19% |
| Gross profit | $2.3B | +12% | +21% |
| Operating profit | $611M | -0.8% | 0% |
| Net earnings | $512M | -5% | +3% |
| Operating cash flow | $969M | +66% | +28% |
| Free cash flow | $897M | — | +39% |
What changed
Revenue was $3.1B in Q1 2026, up 19% year over year and up 4% from the previous quarter. Marketplace revenues was the largest line at 81% of revenue. Marketplace revenues added $0.36B year over year (up 17%), 72% of the total change.
Gross margin was 74.0%, up 1.0 points from Q1 2025. Operating profit was $0.61B, a 19.8% margin (down 3.9 points year over year). Of the extra revenue versus Q1 2025, 0% reached operating profit, below the 24% margin then. Operating expenses grew 31% against revenue growth of 19%. The fastest-growing cost line was General & admin (+57%). Net earnings were $0.51B, up 3% year over year. The effective tax rate was 17.2%.
Operating cash flow was $1.0B (up 28% year over year), 189% of net earnings. Non-cash charges added back $0.09B of depreciation and amortization and $0.16B of share-based compensation. Working capital and other items added $0.21B. After purchases of property and equipment ($0.07B), free cash flow as the company reports it was $0.90B.
Questions
What was eBay's revenue in the first quarter 2026?
eBay (EBAY) reported revenue of $3.1B for the first quarter 2026 (Q1 2026), +19% from a year earlier and +4% from the quarter before.
Was eBay profitable in the first quarter 2026?
Operating profit was $611M (19.8% of revenue) and net earnings $512M.
Source: eBay 10-Q on SEC EDGAR.