EBay’s revenue and gross merchandise volume (GMV) both grew by double digits in its fiscal Q3 2026, helped by strong demand for collectibles and the addition of secondhand marketplace Depop.

The company is also investing heavily in artificial intelligence (AI), livestream shopping and shipping tools designed to help make selling faster and discovery easier.

For its third fiscal quarter ended Sept. 30, eBay reported revenue of $3.21 billion, up 14% year over year. GMV, the total value of goods sold through its marketplaces, rose 15% to $23.17 billion.

“Collectibles remain our largest growth contributor; eBay Motors and fashion also contributed materially, and eBay Live delivered another record quarter,” CEO Jamie Iannone told investors during the company’s earnings call.

Q3 marked Depop’s first quarter under eBay ownership. In the U.S., Depop’s GMV, monthly active users and items sold each more than doubled year over year on a pro forma basis, Iannone said. EBay is now trying to accelerate that momentum by bringing Depop into its broader shipping and technology infrastructure.

For Q4, eBay expects revenue between $3.19 billion and $3.24 billion and GMV between $23.7 billion and $24.1 billion. Depop is expected to contribute about four percentage points of currency-neutral GMV growth.

EBay ranks No. 6 in Digital Commerce 360’s Global Online Marketplaces Database. The market research tool ranks the 100 largest such marketplaces by third-party gross merchandise value (GMV).

Depop growth accelerates as eBay expands shipping and discovery

Depop, which eBay acquired from Etsy in July for $1.4 billion, contributed nearly three percentage points to eBay’s currency-neutral GMV growth in Q3, chief financial officer Peggy Alford said.

Over the trailing 12 months, Depop’s active buyer base grew to 11 million, up from 9 million.

“New cohorts are buying and selling more than prior cohorts, while repurchase, relist, and resell rates all improved year over year,” Iannone said.

During the third quarter, Depop continued to improve its online experience. The resale marketplace “enabled faster, personalized discovery on the homepage, simplified its AI-assisted listing flow and deployed new AI models to prioritize the visibility of higher-quality listings,” he said.

On the shipping side, Depop now has access to eBay’s preferred carrier rates, according to Iannone. “Our investments to lower shipping costs have made lower-priced items economical, increased purchase frequency and improved seller velocity,” he said.

EBay is also looking for ways to put Depop inventory in front of its much larger shopper base. During Q3, the company “tested a dedicated module of relevant Depop listings adjacent to eBay search results for select fashion queries,” Iannone said. He added that eBay is now testing the next phase of the inventory integration, exploring how shoppers “respond to individual Depop listings directly in eBay search results for relevant queries.”

AI tools help sellers list products faster

Global consumer-to-consumer (C2C) also drove growth in Q3. During the quarter, C2C GMV rose more than 20%, including double-digit gains in the U.S., U.K. and Australia, Iannone said.

“Artificial intelligence has an outsized impact on our C2C business as it reduces friction that prevents consumers from listing and selling successfully,” he noted.

EBay continues to see “strong results” from the latest generation of its AI-powered Magical Listing experience. The upgraded tool, which helps sellers create listings from product photos, is now available to all new and reactivated sellers across six major markets, Iannone said.

EBay also upgraded the tool’s pricing recommendations, which Iannone said helped improve both conversion rates and sell-through.

On the shipping side, eBay expanded AI tools that estimate package dimensions, generate prepaid labels and provide tracking. Early results show a double-digit percentage reduction in listing time, Iannone said.

eBay Live expands as company explores agentic commerce

EBay Live, the company’s livestream shopping platform, posted another record quarter in Q3. GMV reached a multibillion-dollar annualized run rate, with year-over-year growth remaining “well into the triple digits,” Iannone said.

During Q3, eBay introduced multistreaming, allowing sellers to broadcast on YouTube, Facebook, Instagram and Twitch simultaneously.

Additionally, the company added AI-powered moderation across chat, audio and video.

“We also deployed real-time multimodal AI agents to extract structured item details directly from video streams,” Iannone said. “These agents are initially focused on trust and over time will support automated listing creation tools and more intelligent item discovery.”

Beyond its own marketplace, eBay sees opportunities to attract shoppers through third-party AI agents.

Traffic from those channels remains “very, very small today,” Iannone said. However, the referrals bring in new and reactivated buyers at a higher rate than comparable channels, he said.

“Importantly, even though the traffic is small today, we are seeing that roughly half of the new buyers from those referrals come directly to eBay for their subsequent purchases,” Iannone said.

Collectibles drive GMV growth

In Q3 2026, eBay’s Focus Categories also posted strong growth. According to Iannone, GMV across collectibles, eBay Motors, fashion and refurbished goods rose 24% year over year.

Collectibles remained the largest contributor, he said, helped by Pokémon’s 30th anniversary releases and demand for sports trading cards.

TCGplayer, the trading card marketplace eBay acquired in 2022, topped $1 billion in trailing-12-month GMV. And Goldin, the collectibles auction house acquired in 2024, posted another record GMV quarter, Iannone said.

To help raise buyer trust, eBay has been expanding its authentication services. During Q3, it extended its Authenticity Guarantee to lower-priced trading cards in the U.S. and U.K., he said. The move increased eligible sold items in the U.S. by more than 20%. EBay also added authentication for eligible collectible coins. “Authenticity Guarantee surpassed 20 million cumulative items inspected across categories in July,” Iannone said.

EBay also expanded its Authenticity Guarantee service for luxury fashion across Europe. During Q3, total luxury fashion GMV grew by double digits.

Combined, eBay and Depop generated $9 billion in U.S. fashion GMV over the trailing 12 months, Alford said, up in the mid-20% range year over year on a pro forma basis.

eBay’s active buyer base grows

In Q3, eBay’s global active buyer base reached 147 million, up 4% year over year on a pro forma basis. That includes Depop and Tise, another marketplace eBay acquired in 2025. Excluding the acquisitions, active buyers grew more than 1%, Alford said.

In the U.S., active buyers rose 6% organically.

EBay’s 16 million enthusiast buyers, its most loyal customers, account for more than 70% of core marketplace GMV. They visit eBay more than once a day on average and spend roughly $3,700 over a trailing 12-month period, Alford said.

Meanwhile, eBay’s 2026 Recommerce Report points to growing demand for secondhand goods.

The report found that 47% of surveyed consumers shop secondhand at least monthly, up from 35% in 2025. Another 89% expect to spend the same or more on secondhand goods in 2027. Among consumers ages 18 to 29, 53% expect to buy more.

Iannone said the findings reinforce eBay’s long-term opportunity “as secondhand becomes a larger part of how people shop.”

Percentage changes may not align due to rounding. Check back for more earnings reports. Here’s our last update on eBay sales, revenue and GMV.

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