Retail
Price
$114.84
+3.20%Market Cap
$50.99B
Day High
$115.98
Day Low
$111.32
eBay delivered strong Q1 FY2026 revenue growth of 19.5% YoY to $3.09B, driven by gross profit expansion, though operating income was flat and operating margin compressed nearly 4 percentage points.
Key risk: Operating Margin Deterioration
Operating margin fell from 23.6% to 19.8% YoY despite strong revenue growth, as operating expenses — including a 14.5% increase in R&D spend to $450M — grew faster than revenue. If this cost trajectory continues, profitability could be further pressured even with sustained top-line growth.
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