Filing Flows › eBay (EBAY) › Q2 2026 › vs Q1 2026
eBay (EBAY) Q2 2026 vs Q1 2026 (quarter over quarter)
eBay's revenue rose $45.0M (+1%) from $3.1B in Q1 2026 to $3.1B in Q2 2026. The biggest changes: Marketplace revenues +$30.0M (+1%); Advertising revenues +$15.0M (+3%). Gross margin 73.5% against 74.0% (-0.6 pts).
eBay, Q2 2026: revenue $3.1B (+15% year over year), operating margin 21.6%, net earnings $550M, operating cash flow $523M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 73.5% | 74.0% | -0.6 pts |
| Operating margin | 21.6% | 19.8% | +1.8 pts |
| Net margin | 17.5% | 16.6% | +1.0 pts |
| Free cash flow margin | 9.6% | 29.0% | -19.5 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Marketplace revenues | $2.5B | $2.5B | $30.0M | +1% |
| Advertising revenues | $596M | $581M | $15.0M | +3% |
| Revenue | $3.1B | $3.1B | $45.0M | +1% |
| Gross profit | $2.3B | $2.3B | $15.0M | +0.7% |
| Cost of revenue | $832M | $802M | $30.0M | +4% |
| Operating profit | $676M | $611M | $65.0M | +11% |
| Operating expenses | $1.6B | $1.7B | −$50.0M | -3% |
| Pre-tax earnings | $663M | $618M | $45.0M | +7% |
| Other expense, net | $13.0M | −$7.0M | $20.0M | — |
| Research & development | $484M | $450M | $34.0M | +8% |
| Sales & marketing | $697M | $673M | $24.0M | +4% |
| General & admin | $306M | $410M | −$104M | -25% |
| Other operating costs | $139M | $143M | −$4.0M | -3% |
| Net earnings | $550M | $512M | $38.0M | +7% |
| Income tax | $113M | $106M | $7.0M | +7% |
| Depreciation & amortization | $101M | $93.0M | $8.0M | +9% |
| Share-based compensation | $182M | $156M | $26.0M | +17% |
| Working capital & other | $310M | −$208M | $518M | — |
| Operating cash flow | $523M | $969M | −$446M | -46% |
| Free cash flow (OCF − capex) | $300M | $897M | −$597M | -67% |
| Capital expenditures | $223M | $72.0M | $151M | +210% |
Questions
How much did eBay's revenue grow quarter over quarter in Q2 2026?
eBay's revenue rose $45.0M (+1%) from $3.1B in Q1 2026 to $3.1B in Q2 2026.
What drove eBay's revenue change in Q2 2026?
Marketplace revenues +$30.0M (+1%); Advertising revenues +$15.0M (+3%).