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Dec 31, 2025
eBay Q4 2025 Earnings Report
eBay reported strong fourth quarter 2025 results with double-digit revenue and GMV growth, solid profitability, and significant capital returns.
Key Takeaways
eBay generated $2965000000 in revenue in Q4 2025, with GMV reaching $21237000000 and GAAP net income from continuing operations of $525000000, while delivering $478000000 in free cash flow and returning $756000000 to shareholders.
Revenue increased to 2965000000 in Q4 2025.
GMV reached 21237000000, up year-over-year.
GAAP net income from continuing operations was 525000000.
Free cash flow totaled 478000000 and 756000000 was returned to stockholders.
Revenue by Segment
Forward Guidance
For Q1 2026, eBay expects revenue between 3000000000 and 3050000000, GMV between 21500000000 and 21900000000, GAAP diluted EPS between 1.14 and 1.20, and non-GAAP diluted EPS between 1.53 and 1.59.
Positive Outlook
- Q1 2026 revenue guidance of 3000000000 to 3050000000.
- Q1 2026 GMV guidance of 21500000000 to 21900000000.
- Expected FX-neutral revenue growth of 13% to 15%.
- Expected FX-neutral GMV growth of 10% to 12%.
- Non-GAAP diluted EPS guidance of 1.53 to 1.59.
Challenges Ahead
- GAAP diluted EPS guidance range includes potential variability from equity investments.
- Non-GAAP tax rate assumption increasing to 17.5% in 2026.
- Exposure to foreign exchange volatility.
- Guidance subject to macroeconomic and regulatory risks.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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