Companies /Consumer Cyclical
EBay Inc
NASDAQ: EBAY Internet Retail
$116.41
▲ $1.76 (+1.54%) today
Markets closed · 7:50pm ET

eBay (EBAY) Q2 2025 Earnings

Reported Jul 30, 2025, 4:07pm ET · SEC source
$1.37
Beat +5.63%
EPS · est. $1.30
$2.7B
Beat +3.38%
Revenue · est. $2.6B
−3.3%
Trailing market
EBAY vs S&P since report
6 quarters
Consecutive EPS beats

How Did EBAY Stock React to Q2 2025 Earnings?

% change · around the report
0+6%+12%Jul 30Jul 31report 4:07pm ETearnings−1.0%+15.1%
0+6%+12%Jul 30Jul 31earnings−1.0%+15.1%
EBAY +15.1%S&P 500 −1.0%
0+6%+12%Jul 30Jul 31report 4:07pm ETearnings−1.5%+15.1%
0+6%+12%Jul 30Jul 31earnings−1.5%+15.1%
EBAY +15.1%NASDAQ −1.5%
−6%0+6%Jul 29Aug 7report 4:07pm ETearnings−0.7%+9.2%
−6%0+6%Jul 29Aug 7earnings−0.7%+9.2%
EBAY +9.2%S&P 500 −0.7%
−6%0+6%Jul 29Aug 7report 4:07pm ETearnings−0.5%+9.2%
−6%0+6%Jul 29Aug 7earnings−0.5%+9.2%
EBAY +9.2%NASDAQ −0.5%
+18.30%
Day of report
−0.01%
Next session
+1.38%
One week
−2.03%
30 days

S&P 500 over the same 30 days: +1.30%.

Did EBAY Beat Earnings? Q2 2025 Results

Yes. eBay reported Q2 2025 earnings of $1.37 a share on Jul 30, 2025, beating the $1.30 consensus estimate by 5.6%. Revenue was $2.7B against a $2.6B estimate.

eBay delivered a strong second quarter, beating Wall Street expectations on both the top and bottom lines as momentum in advertising and gross merchandise volume helped drive results ahead of forecasts. Revenue climbed 6.1% year-over-year to $2.73 billion, clearing the $2.64 billion consensus estimate by 3.38%, while non-GAAP EPS of $1.37 topped the $1.30 estimate by 5.63%, with non-GAAP earnings per share rising 16% from the prior-year period. The standout driver was advertising, where first-party ad revenue surged 19% to $455 million, pushing total ad revenue to $482 million, or roughly 2.5% of the $19.51 billion in gross merchandise volume recorded in the quarter. Strategic investments also added color, including the launch of an AI shopping agent and expanded seller financing tools through Open Banking integrations, signaling eBay's push to deepen platform utility. Looking ahead, management guided Q3 revenue of $2.69 billion to $2.74 billion and non-GAAP EPS of $1.29 to $1.34, pointing to continued steady, if measured, growth.

Key Takeaways
  • Revenue up 6% YoY as-reported, 4% FX-neutral
  • GMV up 6% YoY as-reported, 4% FX-neutral to $19.5 billion
  • U.S. GMV grew 7% YoY; International GMV grew 5% YoY
  • Non-GAAP operating margin expanded to 28.4% from 27.9%
  • First-party advertising revenue grew 19% as-reported, 17% FX-neutral
  • Authenticity Guarantee surpassed 1 million items inspected in a single quarter
  • Active buyers reached 134 million, up 1% YoY

“eBay delivered another strong quarter, with results exceeding expectations across the board. Our momentum reflects the strength of our strategic execution and the resilience of our marketplace. We remain focused on driving long-term growth and creating lasting value for our shareholders.”

eBay CEO, on the earnings call

What Was eBay's Outlook in Q2 2025?

For Q3 2025, eBay guided revenue of $2.69 billion to $2.74 billion with FX-neutral year-over-year growth of 3%-5%. Gross Merchandise Volume is expected at $19.2 billion to $19.6 billion with FX-neutral growth of 3%-5%. GAAP diluted EPS is guided at $0.97 to $1.02, and non-GAAP diluted EPS at $1.29 to $1.34.

EBAY YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$800.0M$1.6B$2.4B$2.6B$2.7BRevenue$1.8B$2.0BGross Profit$549.0M$484.0MOperating Income$224.0M$369.0MNet Income
$0$800.0M$1.6B$2.4BRevenueGross ProfitOperating IncomeNet Income
EBAY income statement, Q2 2025 versus Q2 2024
Metric Q2 2025 Q2 2024 Year over year
Revenue $2.7B $2.6B +6.1%
Gross Profit $2.0B $1.8B +6.4%
Operating Income $484.0M $549.0M −11.8%
Net Income $369.0M $224.0M +64.7%

EBAY Revenue by Segment

Advertising$482.0M
First-Party Advertising$455.0M+19.0%

EBAY Revenue by Geography

United States
Rest of World

Figures from SEC filings and company reports. Not investment advice.