Summary
eBay Inc. reported solid performance for the fiscal year ending December 31, 2025, with net revenues increasing by 8% to $11.1 billion, driven by higher Gross Merchandise Volume (GMV), increased penetration of first-party advertising, and the ramp-up of their U.K. shipping program. Despite facing macroeconomic headwinds such as inflation and elevated interest rates, the company's strategy focused on reinventing the future of e-commerce for enthusiasts through relevant experiences, scalable solutions, and magical innovations, particularly within focus categories like motor vehicles, collectibles, and luxury goods. The company continued its commitment to returning value to shareholders through substantial stock repurchases totaling $2.5 billion and dividends of $531 million. Strategic investments were also made, including a definitive agreement to acquire Depop, Inc. for approximately $1.2 billion, aimed at strengthening its position in recommerce and engaging a younger demographic. While operating margin saw a decrease to 20.5% primarily due to higher administrative expenses related to legal matters and restructuring, eBay's underlying business demonstrated resilience.
Financial Highlights
53 data points| Revenue | $11.10B |
| Cost of Revenue | $3.17B |
| Gross Profit | $7.93B |
| R&D Expenses | $1.64B |
| Operating Expenses | $5.65B |
| Operating Income | $2.28B |
| Net Income | $2.03B |
| EPS (Basic) | $4.43 |
| EPS (Diluted) | $4.34 |
| Shares Outstanding (Basic) | 459.00M |
| Shares Outstanding (Diluted) | 468.00M |
Key Highlights
- 1Net revenues increased 8% to $11.1 billion in fiscal year 2025, compared to $10.28 billion in 2024.
- 2Gross Merchandise Volume (GMV) reached nearly $80 billion in 2025, with 51% generated outside the United States.
- 3The company repurchased $2.5 billion of common stock and paid $531 million in cash dividends during 2025.
- 4eBay entered into a definitive agreement to acquire Depop, Inc. for approximately $1.2 billion, expected to close in Q2 2026.
- 5Operating margin decreased to 20.5% from 22.5% in 2024, impacted by higher legal and restructuring costs.
- 6International net revenues accounted for 48% of total net revenues in 2025.
- 7The company sourced 100% of its electricity consumption from renewable sources for the second consecutive year and is committed to net-zero targets.