Companies /Consumer Cyclical

EBay Inc

NASDAQ: EBAY Internet Retail
$106.70
▲ $1.72 (+1.64%) today
Markets closed · 3:33am ET

Q3 2025 Earnings

Reported Oct 29, 2025, 4:07pm ET · SEC source
$1.36
Beat +1.90%
EPS · est. $1.33
$2.8B
Beat +3.27%
Revenue · est. $2.7B
−1.2%
Trailing market
EBAY vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%0+6%+12%Oct 29Oct 30report 4:07pm ETearnings−0.3%−6.5%
−6%0+6%+12%Oct 29Oct 30earnings−0.3%−6.5%
EBAY −6.5%S&P 500 −0.3%
−6%0+6%+12%Oct 29Oct 30report 4:07pm ETearnings−0.2%−6.5%
−6%0+6%+12%Oct 29Oct 30earnings−0.2%−6.5%
EBAY −6.5%NASDAQ −0.2%
−14%−7%0+7%Oct 28Nov 6report 4:07pm ETearnings−2.3%−13.2%
−14%−7%0+7%Oct 28Nov 6earnings−2.3%−13.2%
EBAY −13.2%S&P 500 −2.3%
−14%−7%0+7%Oct 28Nov 6report 4:07pm ETearnings−3.6%−13.2%
−14%−7%0+7%Oct 28Nov 6earnings−3.6%−13.2%
EBAY −13.2%NASDAQ −3.6%
−15.88%
Day of report
−2.89%
Next session
−3.44%
One week
−0.98%
30 days

S&P 500 over the same 30 days: +0.25%.

Did EBAY Beat Earnings? Q3 2025 Results

eBay delivered a strong third-quarter beat across the board, reporting non-GAAP EPS of $1.36 against a consensus estimate of $1.33, a 1.90% beat, while revenue of $2.82 billion topped expectations of $2.73 billion by 3.27% and grew 9.5% year over year. The standout driver behind the acceleration was gross merchandise volume of $20.11 billion, up 10% as reported, alongside a surging first-party advertising business that generated $496 million in revenue, up 25% year over year, signaling that eBay's marketplace transformation strategy is gaining meaningful traction. The quarter marked a sharp step up from Q2's 6% revenue growth and Q1's 1% growth, and the company backed the momentum with robust free cash flow of $803 million, funding $757 million in capital returns to shareholders. Institutional interest has notably picked up around the print, adding a layer of investor confidence to the story. Looking ahead, eBay guided Q4 2025 revenue of $2.83 billion to $2.89 billion with non-GAAP EPS of $1.31 to $1.36, and full-year 2025 revenue of $10.97 billion to $11.03 billion.

Key Takeaways
  • First-party advertising revenue grew 25% YoY (23% FX-Neutral), reaching $496 million
  • U.S. GMV surged 13% YoY to $9.87 billion, significantly outpacing international growth
  • Total GMV grew 10% YoY to $20.1 billion, driving 9% revenue growth
  • Revenue from international markets represented 48% of total net revenues

“Q3 was another strong quarter for eBay, reflecting continued momentum across our marketplace and disciplined execution of our strategy. We're transforming the eBay experience through AI built on 30 years of unique insights, while enhancing trusted programs in shipping, live commerce and circular fashion. These innovations are deepening engagement with enthusiasts and positioning eBay for continued success as we reinvent the future of ecommerce.”

eBay CEO, on the earnings call

Forward Guidance & Outlook

For Q4 2025, eBay guides revenue of $2.83 billion to $2.89 billion (8%-10% FX-Neutral Y/Y growth), GAAP diluted EPS of $0.96-$1.01, Non-GAAP diluted EPS of $1.31-$1.36, and GMV of $20.5-$20.9 billion (4%-6% FX-Neutral Y/Y growth). For full year 2025, revenue guidance is $10.97-$11.03 billion (6% FX-Neutral Y/Y growth), GAAP diluted EPS of $4.09-$4.14, Non-GAAP diluted EPS of $5.42-$5.47, and GMV of $78.9-$79.3 billion (5% FX-Neutral Y/Y growth).

EBAY YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$800.0M$1.6B$2.4B$2.6B$2.8BRevenue$1.8B$2.0BGross Profit$595.0M$576.0MOperating Income$634.0M$597.0MNet Income
$0$800.0M$1.6B$2.4BRevenueGross ProfitOperating IncomeNet Income

EBAY Revenue by Segment

Advertising$525.0M
First-Party Advertising$496.0M+25.0%

EBAY Revenue by Geography

United States
Rest of World

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