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Sep 30
eBay Q3 2025 Earnings Report
eBay reported solid performance in Q3 2025 with growth in revenue, GMV, and earnings per share.
Key Takeaways
eBay posted a strong Q3 2025, delivering revenue of $2.8 billion and a net income of $597 million, supported by growth in gross merchandise volume and enhanced marketplace engagement.
Revenue reached $2.8 billion, up from $2.576 billion a year ago.
GAAP EPS was $1.28, while Non-GAAP EPS came in at $1.36.
Gross Merchandise Volume grew to $20.1 billion, a 10% increase year-over-year.
eBay returned $757 million to shareholders through repurchases and dividends.
eBay
eBay
eBay Revenue by Segment
eBay Revenue by Geographic Location
Revenue by Segment
Advertising Revenue
CapyFin.com1P Advertising Revenue
CapyFin.comRevenue by Geographic Location
International Revenue
CapyFin.comUnited States Revenue
CapyFin.com Forward Guidance
eBay expects continued growth in Q4 2025 with projected revenue between $2.83B and $2.89B and Non-GAAP EPS between $1.31 and $1.36.
Positive Outlook
- Q4 revenue guidance suggests continued top-line growth.
- Non-GAAP EPS forecast up to $1.36.
- GMV expected to rise to as much as $20.9B.
- Strength in consumer-to-consumer and enthusiast categories.
- Momentum from AI-driven experiences and live commerce.
Challenges Ahead
- GAAP EPS expected to decline from Q3 to a range of $0.96 to $1.01.
- Slight deceleration in GMV growth compared to Q3.
- No guidance provided on gross profit or margins.
- FX headwinds continue to impact international performance.
- Macroeconomic factors could affect discretionary spending.
Revenue & Expenses
Visualization of income flow from segment revenue to net income