AcquisitionsApr 29, 2026, 04:38 PM
EBAY to Acquire Depop for $1.2B; Q1 Revenue +19.5% to $3.09B
AI Summary
eBay Inc. announced a definitive agreement to acquire Depop, a leading consumer-to-consumer fashion marketplace, for approximately $1.2 billion in cash, with the transaction expected to close by Q3 2026. For the three months ended March 31, 2026, the company reported net revenues of $3.09 billion, a 19.5% increase year-over-year, and net income of $512 million, up 2.6%. Diluted EPS rose to $1.12 from $1.05. The company also early adopted ASU 2025-06, impacting the capitalization of internal-use software costs.
Key Highlights
- Definitive agreement to acquire Depop, Inc. for approximately $1.2 billion in cash.
- Net revenues increased 19.5% to $3.09 billion for the three months ended March 31, 2026.
- Net income rose 2.6% to $512 million for the three months ended March 31, 2026.
- Diluted EPS increased to $1.12 from $1.05 year-over-year.
- Marketplace revenues grew to $2.51 billion; Advertising revenues to $581 million.
- US net revenues reached $1.73 billion; UK net revenues were $387 million.
- Repurchased $486 million of common stock in the first quarter of 2026.
- Declared dividends of $0.31 per share for the first quarter of 2026.