The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how online marketplace stocks fared in Q2, starting with eBay (NASDAQ: EBAY).

Marketplaces have existed for centuries. Where once it was a main street in a small town or a mall in the suburbs, sellers benefitted from proximity to one another because they could draw customers by offering convenience and selection. Today, a myriad of online marketplaces fulfill that same role, aggregating large customer bases, which attracts commission-paying sellers, generating flywheel scale effects that feed back into further customer acquisition.

The 10 online marketplace stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 2.2% while next quarter’s revenue guidance was 2% below.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 11.6% since the latest earnings results.

eBay (NASDAQ: EBAY)

Originally known as the first online auction site, eBay (NASDAQ: EBAY) is one of the world’s largest online marketplaces.

eBay reported revenues of $3.13 billion, up 14.8% year on year. This print exceeded analysts’ expectations by 3.7%. Overall, it was a satisfactory quarter for the company with revenue guidance for next quarter beating analysts’ expectations but EPS guidance for next quarter missing analysts’ expectations.

eBay scored the highest guidance raise of the whole group. The company reported 136 million active buyers, up 1.5% year on year. Unsurprisingly, the stock is up 8.6% since reporting and currently trades at $120.68.

Is now the time to buy eBay? Access our full analysis of the earnings results here, it’s free.

Best Q2: Etsy (NYSE: ETSY)

Founded by a struggling amateur furniture maker Robert Kalin and his two friends, Etsy (NYSE: ETSY) is one of the world’s largest online marketplaces, focusing on handmade or vintage items.

Etsy reported revenues of $668.3 million, up 6.2% year on year, outperforming analysts’ expectations by 3.4%. The business had an exceptional quarter with an impressive beat of analysts’ EBITDA estimates.

However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $85.51.

Is now the time to buy Etsy? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: LegalZoom (NASDAQ: LZ)

Founded by famous lawyer Robert Shapiro, LegalZoom (NASDAQ: LZ) offers online legal services and documentation assistance for individuals and businesses.

LegalZoom reported revenues of $205.3 million, up 6.6% year on year, in line with analysts’ expectations. It was a softer quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and EBITDA guidance for next quarter missing analysts’ expectations significantly.

As expected, the stock is down 22.3% since the results and currently trades at $6.30.

Read our full analysis of LegalZoom’s results here.

Instacart (NASDAQ: CART)

Powering more than one billion grocery orders since its founding, Instacart (NASDAQ: CART) is an online grocery shopping and delivery platform that partners with retailers to help customers shop from local stores through its app or website.

Instacart reported revenues of $1.04 billion, up 14.1% year on year. This result surpassed analysts’ expectations by 1.5%. It was a very strong quarter as it also produced a solid beat of analysts’ EBITDA estimates.

The stock is up 9.1% since reporting and currently trades at $49.13.

Read our full, actionable report on Instacart here, it’s free.

Sea (NYSE: SE)

Founded in 2009 and a publicly traded company since 2017, Sea (NYSE: SE) started as a gaming platform and has since expanded to offer a variety of services such as e-commerce, digital payments, and financial services across Southeast Asia.

Sea reported revenues of $7.74 billion, up 44.5% year on year. This number beat analysts’ expectations by 7.4%. It was an exceptional quarter as it also logged a solid beat of analysts’ EBITDA estimates and solid growth in its users.

Sea scored the biggest analyst estimate beat among its peers. The company reported 68.1 million users, up 10.2% year on year. The stock is down 32.6% since reporting and currently trades at $88.66.

Read our full, actionable report on Sea here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.