eBay beats its own forecasts as US surges and international growth slows to 4%

eBay has beaten its own forecasts for the third quarter. Revenue rose 14% to $3.21 billion and gross merchandise volume (GMV, the total value of goods sold on its marketplaces) grew 15% to $23.2 billion in the three months to 30 September 2026. Both figures were above the ranges eBay set in August, of $3.07–3.12 billion and $22.0–22.4 billion.

For BHETA members, the more telling detail is where that growth came from. Most of it was in the US, while eBay's international markets, which include the UK, grew more slowly than in the previous quarter. Growth also remains concentrated in pre-owned goods, collectibles and consumer selling rather than in the new-product categories where most members trade.

A widening gap‍

US GMV rose 27% to $12.5 billion, while international GMV grew 4% to $10.6 billion, down from 6% in the second quarter. International markets now account for 43% of revenue, compared with 48% a year earlier. eBay does not publish a separate UK sales figure, so it is not possible to say how the UK performed within the international total.

Where the growth is coming from

‍eBay's three strategic priorities (its focus categories, consumer-to-consumer (C2C) selling and recommerce, meaning pre-owned and refurbished goods) now make up 72% of GMV and grew by around 20%. Focus categories grew 24%, led by collectibles, motors, fashion and refurbished goods. Fashion resale marketplace Depop, bought from Etsy for $1.4 billion, joined the group on 30 July. Chief Executive Jamie Iannone linked the quarter to momentum "as more consumers embrace recommerce". eBay gave no figures for home, garden, DIY or household electricals.

The UK picture

‍eBay reported healthy double-digit C2C growth across the US, UK and Australia, and is extending its AI-powered listing tool to new and reactivated sellers. It also launched eBay International Shipping for UK sellers, who can now reach buyers in more than 190 markets by sending parcels to a domestic eBay hub.

Advertising and outlook

‍Advertising revenue reached $607 million, with eBay's own on-platform advertising up 16%. For the fourth quarter, eBay expects GMV of $23.7–24.1 billion and revenue of $3.19–3.24 billion (7–9% growth at constant currency), including Depop. It expects revenue to grow more slowly than GMV, citing Depop, accounting for UK managed shipping, and pressure from business, average selling price and category mix.

What does this tell BHETA members?

• Growth in eBay's international markets is modest. International GMV growth of 4% points to a slower market outside the US, although no UK figure is given.
• Pre-owned is now mainstream. With C2C and recommerce each growing by more than 20%, second-hand goods are an increasingly visible alternative to new products, particularly in electricals.
• Home and garden sit outside eBay's growth story. Its investment is going into collectibles, fashion, motors and live shopping.
• Selling overseas through eBay is getting simpler. The new international shipping service gives UK sellers access to buyers in more than 190 markets.