EBAY (EBAY) Company Report

eBay Inc. priced $600 million of 4.250% senior notes due 2029 and $400 million of 5.125% senior notes due 2035, closing November 6, 2025.
Interest on the notes accrues from November 6, 2025 and is payable semi-annually in arrears on March 6 and September 6 of each year.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC acted as representatives of the underwriters for the offering.
The notes are issued under an indenture dated November 6, 2025, with Deutsche Bank Trust Company Americas serving as trustee.

Nov 6, 2025, 9:13 PM

8-K

eBay reports Q3 2025 results

EBAY

Earnings

Guidance Update

Share Buyback

Gross merchandise volume grew 8% to $20.1 billion; revenue rose 8% to $2.82 billion; non-GAAP EPS increased 14% to $1.36.
Returned ~$760 million to shareholders in Q3, including $625 million of share repurchases and $132 million in dividends.
Free cash flow reached $803 million, with $5.3 billion in cash and non-equity investments against $6.8 billion of gross debt at quarter-end.
Q4 2025 guidance: GMV of $20.5–20.9 billion (4–6% FX-neutral growth); revenue of $2.83–2.89 billion (8–10% FX-neutral growth); non-GAAP EPS of $1.31–1.36; operating margin of 25.8–26.3%.

Oct 29, 2025, 9:30 PM

Transcript

eBay reports Q3 2025 results

EBAY

Earnings

Guidance Update

Share Buyback

eBay delivered 8% GMV growth to $20.1 billion and 8% revenue growth to $2.82 billion in Q3, with non-GAAP EPS of $1.36, up 14% y/y.
Non-GAAP operating margin was 27.1% (down 10 bps y/y) and free cash flow reached $803 million; the company ended the quarter with $5.3 billion in cash & investments and $6.8 billion gross debt.
For Q4, eBay guides GMV of $20.5–20.9 billion (4–6% y/y) and revenue of $2.83–2.89 billion (8–10% y/y), with non-GAAP EPS of $1.31–1.36.
The company repurchased $625 million of shares at an average price of $88 and declared a $0.29 per-share dividend ($132 million) in September.
eBay closed the acquisition of Tise, strengthening its presence in Nordic pre-loved fashion and accelerating its circular economy initiatives.

Oct 29, 2025, 9:30 PM

Transcript

eBay reports Q3 2025 results

EBAY

Earnings

Guidance Update

eBay delivered $20.1 B GMV, up 10% spot / 8% FXN, above guidance of $19.2–$19.6 B.
Net revenue was $2.82 B, up 10% spot / 8% FXN, beating guidance of $2.69–$2.74 B.
Non-GAAP operating margin of 27.1% and diluted non-GAAP EPS of $1.36, exceeding the high end of guidance.
Free cash flow was $803 M (28% of revenue) with $5.3 B in cash & investments vs $6.8 B in debt; Q4 guidance set GMV at $20.5–$20.9 B and revenue at $2.83–$2.89 B.

Oct 29, 2025, 9:30 PM

Presentation

eBay announces Q3 2025 results

EBAY

Earnings

Guidance Update

Share Buyback

eBay reports 8% GMV growth to $20.1 billion, 8% revenue increase to $2.82 billion, and 14% non-GAAP EPS growth to $1.36 in Q3 2025.
Q4 2025 guidance: GMV $20.5–$20.9 billion (4–6% FX-neutral growth); revenue $2.83–$2.89 billion (8–10% FX-neutral growth); non-GAAP EPS $1.31–$1.36.
Continued momentum in focus categories (15%+ GMV growth) led by collectibles and parts & accessories; launched eBay International Shipping in Canada and Speedpack in Germany to enhance cross-border trade.
Returned ~$760 million to shareholders in Q3 through share repurchases and dividends; plans to repurchase ~$2.5 billion and return $3 billion total in 2025.
Planning for positive FX-neutral GMV and revenue growth in 2026, while anticipating ~3 points of headwinds from lapping trading card gains (~2 points) and de minimis changes (~1 point).

Oct 29, 2025, 9:30 PM

Transcript

eBay reports Q3 2025 results

EBAY

Earnings

Guidance Update

Share Buyback

For Q3 2025, revenue was $2.8 billion (up 9% as-reported, 8% FX-neutral) and GMV reached $20.1 billion (up 10% as-reported, 8% FX-neutral).
GAAP EPS from continuing operations was $1.28, with non-GAAP EPS at $1.36, and GAAP operating margin of 20.4% (non-GAAP 27.1%).
Generated $934 million in operating cash flow and $803 million in free cash flow; returned $757 million to shareholders, including $625 million in buybacks and $132 million in dividends.
Q4 2025 revenue guidance of $2.83 – $2.89 billion and full-year revenue guidance of $10.97 – $11.03 billion.

Oct 29, 2025, 8:07 PM

8-K

eBay reports Q3 2025 results

EBAY

Earnings

Guidance Update

Share Buyback

Revenue of $2.8 billion, up 9% on an as-reported basis and 8% FX-neutral; GMV of $20.1 billion, up 10% as-reported and 8% FX-neutral.
GAAP EPS of $1.28 and non-GAAP EPS of $1.36, with GAAP and non-GAAP operating margins of 20.4% and 27.1%, respectively.
Generated $934 million of operating cash flow and $803 million of free cash flow; returned $757 million to stockholders (including $625 million in share repurchases and $132 million in dividends).
Q4 2025 revenue guidance of $2.83 billion–$2.89 billion and full-year 2025 revenue guidance of $10.97 billion–$11.03 billion.

Oct 29, 2025, 8:05 PM

Press Release

eBay holds 2025 annual meeting of stockholders

EBAY

Proxy Vote Outcomes

Share Buyback

New Projects/Investments

At the Annual Meeting on June 25, 2025 , all 11 director nominees were re-elected, PricewaterhouseCoopers LLP was ratified as auditor, advisory approval was given to named executive officer compensation and the equity incentive plan amendments, while the special meeting rights proposal remains too close to call and the director resignation policy was rejected.
Management reported FY 2024 results with $75 billion GMV, 2.3 billion live listings, 134 million active buyers, 2% revenue growth (FX-neutral), $4.88 non-GAAP EPS, $2 billion free cash flow, and $3.7 billion returned to shareholders through buybacks and dividends.
The company emphasized three strategic pillars—relevant experiences, scalable solutions, and AI-powered innovations—highlighting initiatives such as the Caramel acquisition, new AI listing tools and conversational shopping agent, and the expansion of eBay Live.
For sustainability, eBay generated a $5 billion positive economic impact via pre-owned goods, avoided 1.6 million metric tons of CO₂, kept 70 000 metric tons of waste out of landfills, and achieved 100% renewable electricity at its offices and data centers.

Jun 25, 2025, 4:11 PM

eBay Q1 2025 Earnings & Strategic Operational Initiatives Amid Leadership Change

EBAY

Earnings

CFO Change

Guidance Update

Share Buyback

Dividends

Delivered a robust Q1 2025 performance with GMV of $18.8B, Revenue of ~$2.6B, Non-GAAP EPS of $1.38, and GAAP EPS of $1.06
Achieved strong profitability with 29.8% Non-GAAP Operating Margin and 23.8% GAAP Operating Margin
Returned approximately $760M to shareholders via repurchases and dividends (including $625M in share repurchases and $134M in dividends) with about $2.7B remaining in buyback authorization
Announced key leadership transitions, including the appointment of incoming CFO Peggy Alford, while navigating global trade challenges and providing conservative Q2 guidance
Advanced marketplace innovation through AI-powered discovery, PSA integration for trading cards, and an enhanced listing flow supporting a fourth consecutive quarter of positive GMV growth
Generated $644M of free cash flow, underscoring strong operational performance

Apr 30, 2025, 9:31 PM

Transcript Presentation Press Release 8-K

Earnings Transcripts

Quarterly earnings call transcripts for EBAY.

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