eBay

EBAY Q1 2025 Earnings

Reported Apr 30, 2025 at 4:08 PM ET · SEC Source

Q1 25 EPS

$1.38

BEAT +3.23%

Est. $1.34

Q1 25 Revenue

$2.59B

BEAT +1.50%

Est. $2.55B

vs S&P Since Q1 25

+27.9%

BEATING MARKET

EBAY +56.9% vs S&P +29.0%

Market Reaction

Did EBAY Beat Earnings? Q1 2025 Results

eBay opened 2025 on solid footing, posting a fourth consecutive quarter of positive gross merchandise volume growth as the e-commerce marketplace beat Wall Street expectations on both the top and bottom lines. Non-GAAP earnings per share came in at $… Read more eBay opened 2025 on solid footing, posting a fourth consecutive quarter of positive gross merchandise volume growth as the e-commerce marketplace beat Wall Street expectations on both the top and bottom lines. Non-GAAP earnings per share came in at $1.38, clearing the $1.34 consensus estimate by 3.23%, while revenue of $2.58 billion edged past the $2.55 billion forecast by 1.50%, rising 1.1% year-over-year. The clearest engine behind the results was advertising, where first-party ad products grew 13% to $418 million, reinforcing the platform's expanding monetization capabilities. Free cash flow also strengthened notably, reaching $644 million versus $472 million a year ago, enabling the company to return $759 million to shareholders through buybacks and dividends. Alongside the results, eBay announced a significant leadership reshuffle, including a CFO transition as Peggy Alford steps in to replace departing Steve Priest. Looking ahead, the company guided Q2 revenue of $2.59 billion to $2.66 billion and non-GAAP EPS of $1.24 to $1.31, with management citing tariff uncertainty as a factor behind a wider-than-typical guidance range.

Key Takeaways

  • Focus Categories and geo-specific investments driving momentum
  • Fourth consecutive quarter of positive GMV growth
  • First-party advertising revenue growth of 13% as-reported and 14% FX-Neutral
  • Active buyers grew 1% year-over-year to 134 million
  • U.S. GMV grew 1% year-over-year to $9.07 billion
24/7 Wall St

EBAY YoY Financials

Q1 2025 vs Q1 2024, source: SEC Filings

24/7 Wall St

EBAY Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q4 25

“eBay's first quarter results were ahead of expectations, as we delivered our fourth consecutive quarter of positive GMV growth. Our Focus Categories and geo-specific investments are driving momentum in the business, and we continue to innovate – leveraging Al to make our marketplace more efficient and intuitive for customers.”

— Jamie Iannone, Q1 2025 Earnings Press Release