eBay Closes $1.4B Depop Buy, Raises Outlook as Buyers Surge to 9M
EBAY sits 41% above its 52-week low of $78.03.
Summary
eBay closed its $1.4 billion cash acquisition of Depop on June 30, retaining the brand while its user base jumped to roughly 9 million in Q2. The company raised its full-year outlook, guiding Q3 EPS of $1.36–$1.42 on revenue of $3.07–$3.12 billion, up 8–10% year-over-year. Management also detailed growth initiatives including an expanded Authenticity Guarantee, AI listing tools, and consumer-to-consumer upgrades, though the Depop deal will weigh on Q3 non-GAAP EPS. Two brokerages raised price targets—Benchmark to $134 and Truist to $115—following the strong Q2 report. This follows eBay's rejection of GameStop's $56 billion bid and a UK antitrust probe into the Depop deal, with the raised guidance signaling confidence in standalone momentum.
At the time of this announcement, EBAY was trading at $110.37 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $49.8B. The 52-week trading range was $78.03 to $119.31. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.