eBay exceeds Q2 expectations with strong revenue and GMV growth

eBay Inc., a global commerce leader, announced financial results for its second quarter ended June 30, 2025, surpassing internal expectations across key metrics. The company reported revenue of 2.7 billion dollars, a 6 percent increase on an as-reported basis and 4 percent on an FX-neutral basis, alongside a gross merchandise volume (GMV) of 19.5 billion dollars, also up 6 percent as-reported and 4 percent FX-neutral.

Jamie Iannone, chief executive officer at eBay, commented on the performance, stating, "eBay delivered another strong quarter, with results exceeding expectations across the board. Our momentum reflects the strength of our strategic execution and the resilience of our marketplace. We remain focused on driving long-term growth and creating lasting value for our shareholders."

Financially, the company saw GAAP net income from continuing operations reach 369 million dollars, or 79 cents per diluted share, an increase from 226 million dollars and 45 cents per diluted share in the same period last year. Non-GAAP net income from continuing operations was 643 million dollars, or 1.37 dollars per diluted share. While the GAAP operating margin slightly decreased to 17.7 percent, the non-GAAP operating margin saw an uptick to 28.4 percent.

Despite reporting negative operating and free cash flow for the quarter, eBay demonstrated a strong commitment to shareholder returns, repurchasing 625 million dollars of common stock and paying 134 million dollars in cash dividends. The company maintains a healthy cash and cash equivalents portfolio totalling 5.4 billion dollars.

Beyond the financial performance, eBay highlighted several key business initiatives. The company formally launched eBay Live in the U.K. at Comic-Con London and debuted eBay Live on Tour in the U.S., expanding its livestream shopping experiences. The Authenticity Guarantee program surpassed one million items inspected in a quarter for the first time, bolstered by the launch of luxury apparel authentication in the U.K. and expanded eligibility in the U.S. eBay also reinforced its relevance in the fashion industry through collaborations, including Grammy-winning singer Chappell Roan's upcycled Met Gala look auctioned for charity and a partnership with Winnie Harlow and Brie Welch at the Formula 1 Miami Grand Prix for pre-loved fashion pieces.

Looking ahead, eBay provided guidance for the third quarter of 2025, anticipating revenue between 2.69 billion dollars and 2.74 billion dollars, representing 3 percent to 5 percent FX-neutral growth, and GMV between 19.2 billion dollars and 19.6 billion dollars, also 3 percent to 5 percent FX-neutral growth.

The board of directors declared a third-quarter cash dividend of 29 cents per share, payable on September 12, 2025.