eBay (EBAY) Q1 2025 Earnings
How Did EBAY Stock React to Q1 2025 Earnings?
S&P 500 over the same 30 days: +6.74%.
Did EBAY Beat Earnings? Q1 2025 Results
Yes. eBay reported Q1 2025 earnings of $1.38 a share on Apr 30, 2025, beating the $1.34 consensus estimate by 3.2%. Revenue was $2.6B against a $2.5B estimate.
eBay opened 2025 on solid footing, posting a fourth consecutive quarter of positive gross merchandise volume growth as the e-commerce marketplace beat Wall Street expectations on both the top and bottom lines. Non-GAAP earnings per share came in at $1.38, clearing the $1.34 consensus estimate by 3.23%, while revenue of $2.58 billion edged past the $2.55 billion forecast by 1.50%, rising 1.1% year-over-year. The clearest engine behind the results was advertising, where first-party ad products grew 13% to $418 million, reinforcing the platform's expanding monetization capabilities. Free cash flow also strengthened notably, reaching $644 million versus $472 million a year ago, enabling the company to return $759 million to shareholders through buybacks and dividends. Alongside the results, eBay announced a significant leadership reshuffle, including a CFO transition as Peggy Alford steps in to replace departing Steve Priest. Looking ahead, the company guided Q2 revenue of $2.59 billion to $2.66 billion and non-GAAP EPS of $1.24 to $1.31, with management citing tariff uncertainty as a factor behind a wider-than-typical guidance range.
- Focus Categories and geo-specific investments driving momentum
- Fourth consecutive quarter of positive GMV growth
- First-party advertising revenue growth of 13% as-reported and 14% FX-Neutral
- Active buyers grew 1% year-over-year to 134 million
- U.S. GMV grew 1% year-over-year to $9.07 billion
“eBay's first quarter results were ahead of expectations, as we delivered our fourth consecutive quarter of positive GMV growth. Our Focus Categories and geo-specific investments are driving momentum in the business, and we continue to innovate – leveraging Al to make our marketplace more efficient and intuitive for customers.”
eBay CEO, on the earnings call
What Was eBay's Outlook in Q1 2025?
For Q2 2025, eBay guided revenue of $2.59 billion to $2.66 billion with FX-Neutral year-over-year growth of (1)% to 2%. GMV is expected between $18.6 billion and $19.1 billion with FX-Neutral growth of (1)% to 2%. GAAP diluted EPS is expected at $0.87 to $0.94 and non-GAAP diluted EPS at $1.24 to $1.31. The company continues to invest for the long-term health of the marketplace while navigating a dynamic demand environment.
EBAY YoY Financials
| Metric | Q1 2025 | Q1 2024 | Year over year |
|---|---|---|---|
| Revenue | $2.6B | $2.6B | +1.1% |
| Gross Profit | $1.9B | $1.9B | +0.3% |
| Operating Income | $616.0M | $631.0M | −2.4% |
| Net Income | $505.0M | $438.0M | +15.3% |
EBAY Revenue by Segment
EBAY Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.