Financial Data and Key Metrics Changes - Gross merchandise volume (GMV) grew 8% to $20.1 billion, with revenue increasing over 8% to $2.82 billion, and non-GAAP earnings per share rising over 14% year-over-year to $1.36 [5][27] - Non-GAAP operating income grew 9% year-over-year to $764 million, with a non-GAAP operating margin of 27.1% [27][32] - Free cash flow generated was $803 million, with cash and non-equity investments totaling $5.3 billion and gross debt at $6.8 billion [32] Business Line Data and Key Metrics Changes - Focus categories GMV growth accelerated to over 15%, with collectibles being the largest contributor, particularly in collectible card games and sports trading cards [5][7] - Motors Parts and Accessories (P&A) contributed significantly to GMV growth, with over 750 million live listings [9] - Fashion categories, including luxury and pre-loved apparel, also drove GMV growth, supported by partnerships like the one with Marks & Spencer [10] Market Data and Key Metrics Changes - U.S. market GMV growth accelerated to nearly 13%, while international GMV grew nearly 4% on an FX-neutral basis [28][29] - The UK C2C initiative saw notable improvements, contributing to overall acceleration in UK volume growth [29][14] - The removal of the de minimis exemption for imports under $800 created challenges for cross-border trade into the U.S., impacting growth [22][28] Company Strategy and Development Direction - The company is focused on enhancing its marketplace through innovations like eBay Live and AI-driven tools to improve user experience [12][25] - The acquisition of TIES aims to strengthen the company's position in the circular economy and expand its presence in the Nordics [15] - Continued investment in AI technologies is expected to transform the shopping experience and improve seller interactions [16][25] Management Comments on Operating Environment and Future Outlook - Management acknowledged macroeconomic challenges but expressed confidence in the company's growth strategy and the resilience of its marketplace [5][24] - The company anticipates a modest deceleration in GMV growth in Q4 due to various headwinds, including the full impact of the de minimis change [33][34] - For 2026, the company plans for continued positive FX-neutral GMV and revenue growth, while being mindful of potential lapping dynamics [37][38] Other Important Information - The company returned approximately $760 million to shareholders through repurchases and cash dividends [27] - Non-GAAP gross margin was 71.6%, with total advertising revenue reaching $525 million, representing GMV penetration of 2.6% [30][31] - The company is committed to maintaining a strong culture and has received recognition for its workplace environment [24] Q&A Session Summary Question: Insights on AI's impact on eBay's business - Management highlighted AI's potential to unlock supply for consumers and enhance user experience through improved recommendations and search capabilities [44][46] Question: Margins and investment strategies - Management discussed balancing long-term growth with margin flow-through, noting increased product development expenses aimed at strategic initiatives [50][52] Question: Sustainability of growth in trading cards - Management expressed confidence in the long-term growth of trading cards, attributing recent success to trust and innovation in the category [71]

Financial Data and Key Metrics Changes - Gross merchandise volume (GMV) grew 8% to $20.1 billion, with revenue increasing over 8% to $2.82 billion, and non-GAAP earnings per share rising over 14% year-over-year to $1.36 [5][27] - Non-GAAP operating income grew 9% year-over-year to $764 million, with a non-GAAP operating margin of 27.1% [27][32] - Free cash flow generated was $803 million, with cash and non-equity investments totaling $5.3 billion and gross debt at $6.8 billion [32] Business Line Data and Key Metrics Changes - Focus categories GMV growth accelerated to over 15%, with collectibles being the largest contributor, particularly in trading cards [5][7] - Motors parts and accessories (P&A) contributed significantly to GMV growth, with over 750 million live listings [9] - Fashion categories, including luxury and pre-loved apparel, also drove GMV growth, supported by partnerships like the one with Marks & Spencer [10] Market Data and Key Metrics Changes - U.S. GMV growth accelerated to nearly 13%, while international GMV grew nearly 4% on an FX-neutral basis [28] - The U.K. C2C initiative saw notable improvements, contributing to overall volume growth [29] - Cross-border trade faced challenges due to the removal of the de minimis exemption, impacting year-over-year volume growth [28][29] Company Strategy and Development Direction - The company is focused on leveraging AI to enhance the selling experience and improve buyer engagement through features like Magical Listing and AI shopping agents [16][25] - Expansion into live commerce through eBay Live is seen as a strategic growth vector, with significant momentum in the U.S. and plans for further expansion in Europe [12][25] - The acquisition of Tise aims to strengthen the company's position in the circular economy and enhance its presence in the Nordics [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macroeconomic challenges but expressed confidence in the company's growth strategy and the resilience of its marketplace [5][24] - The outlook for Q4 includes expected GMV between $20.5 billion and $20.9 billion, reflecting durable growth trends [33] - Management highlighted the importance of balancing top-line growth with margin flow-through, indicating ongoing investments in strategic initiatives [52][41] Other Important Information - The company returned approximately $760 million to shareholders through repurchases and cash dividends [27] - Non-GAAP gross margin was 71.6%, with a slight decline attributed to managed shipping and traffic acquisition costs [31] - The company plans to repurchase approximately $2.5 billion of shares for the full year [36] Q&A Session Summary Question: Insights on AI's impact on eBay's business - Management discussed the potential of AI to unlock supply for consumers and enhance the shopping experience through improved recommendations and discovery [44][46] Question: Margins and investment strategies - Management elaborated on balancing long-term growth with margin flow-through, noting increased product development expenses and strategic investments [50][52] Question: Sustainability of growth in trading cards - Management expressed confidence in the long-term growth of trading cards, driven by trust and innovation, while acknowledging that growth may not be linear [71]

Financial Data and Key Metrics Changes - Gross merchandise volume (GMV) grew 8% to $20.1 billion, with revenue increasing over 8% to $2.82 billion, and non-GAAP earnings per share rising over 14% year-over-year to $1.36 [4][27] - Non-GAAP operating income grew 9% year-over-year to $764 million, with a non-GAAP gross margin of 71.6% and a non-GAAP operating margin of 27.1% [27][31] - Free cash flow reached $803 million, with cash and non-equity investments totaling $5.3 billion and gross debt at $6.8 billion [32] Business Line Data and Key Metrics Changes - Focus categories GMV growth accelerated to over 15%, with collectibles being the largest contributor, particularly in collectible card games and sports trading cards [4][5] - Motors Parts and Accessories (P&A) contributed significantly to GMV growth, with over 750 million live listings [7][8] - Fashion categories, including luxury and pre-loved apparel, also drove GMV growth, supported by partnerships like the one with Marks & Spencer [8][9] Market Data and Key Metrics Changes - U.S. market GMV growth accelerated to nearly 13%, while international GMV grew nearly 4% on an FX-neutral basis [28][29] - The UK C2C initiative saw notable improvements in customer satisfaction and GMV growth, with the introduction of managed shipping [12][29] - The removal of the de minimis exemption for imports under $800 created challenges for cross-border trade into the U.S. [22][23] Company Strategy and Development Direction - The company is focused on leveraging AI to enhance the selling experience and improve buyer engagement through features like Magical Listing and AI Shopping Agent [15][16] - Expansion of eBay Live into new markets is seen as a strategic growth vector, with significant momentum in the U.S. and UK [10][11] - The acquisition of TIES aims to strengthen the company's position in the circular economy and enhance its presence in the Nordics [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the durability of growth trends, despite facing macroeconomic challenges and changes in trade policy [4][28] - The company anticipates continued growth in focus categories and is investing in strategic initiatives to drive long-term growth [25][41] - For Q4, GMV is expected to be between $20.5 and $20.9 billion, with revenue guidance between $2.83 and $2.89 billion [33][34] Other Important Information - The company returned approximately $760 million to shareholders through repurchases and cash dividends [27] - The advertising revenue grew nearly 23%, with first-party ads contributing significantly to this growth [20][30] - The company plans to repurchase approximately $2.5 billion of shares for the full year [39] Q&A Session Summary Question: Insights on AI's impact on eBay's business - Management highlighted AI's potential to unlock supply for consumers and enhance user experience through improved recommendations and search capabilities [44][45] Question: Margins and investment strategies - Management discussed balancing long-term growth with margin flow-through, noting increased product development expenses aimed at strategic initiatives [48][49] Question: Sustainability of growth in trading cards - Management expressed confidence in the long-term growth of trading cards, driven by trust and innovation, while acknowledging that growth may not be linear [64][66]

Core Insights - eBay reported quarterly earnings of $1.36 per share, exceeding the Zacks Consensus Estimate of $1.33 per share, and up from $1.19 per share a year ago, representing an earnings surprise of +2.26% [1] - The company achieved revenues of $2.82 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.90% and increasing from $2.58 billion year-over-year [2] - eBay shares have increased approximately 60.7% year-to-date, significantly outperforming the S&P 500's gain of 17.2% [3] Earnings Outlook - The future performance of eBay's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4][6] - The current consensus EPS estimate for the upcoming quarter is $1.37 on revenues of $2.81 billion, and for the current fiscal year, it is $5.46 on revenues of $10.87 billion [7] Industry Context - The Internet - Commerce industry, to which eBay belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact eBay's stock performance [5]

Q3 2025 Performance Highlights - eBay's Gross Merchandise Volume (GMV) reached $20.1 billion [7], exceeding guidance of $19.2 - $19.6 billion [43]. - Revenue for Q3 2025 was $2.8 billion [7], surpassing the guided range of $2.69 - $2.74 billion [43]. - Non-GAAP operating margin stood at 27.1% [7], hitting the high end of the guidance [43]. - Diluted Non-GAAP EPS was $1.36 [7], above the guidance of $1.29 - $1.34 [43]. - eBay has 16 million Enthusiast Buyers [7], defined as buyers with at least 6 purchase days and $800+ annual spend [9]. Category Growth & Strategic Initiatives - Focus Categories (Collectibles, Motors Parts & Accessories, Fashion) grew +15% year-over-year on an FX-Neutral basis [12], outpacing the rest of the marketplace by approximately 11 percentage points [12]. - eBay Live's annual GMV run-rate increased by approximately 5x year-over-year [14]. - Over $1 billion has been disbursed to sellers globally through financing partners since 2021 via Seller Capital [37]. Q4 2025 Guidance - GMV is projected to be between $20.5 - $20.9 billion [72], representing a 6%-8% spot growth [72]. - Revenue is expected to be in the range of $2.83 - $2.89 billion [72], indicating a 10%-12% spot growth [72]. - Non-GAAP operating margin is guided to be 25.8% - 26.3% [72]. - Diluted Non-GAAP EPS is projected to be $1.31 - $1.36 [72], reflecting a 5%-9% growth [72]. FY 2025 Guidance - GMV is expected to be $78.9 - $79.3 billion [73], with a 6% - 6% spot growth [73]. - Revenue is projected to be $10.97 - $11.03 billion [73], showing a 7% - 7% spot growth [73]. - Non-GAAP operating margin is guided to be 27.7% - 27.8% [73]. - Diluted Non-GAAP EPS is expected to be $5.42 - $5.47 [73], representing an 11% - 12% growth [73]. - The company anticipates approximately $1.5 billion in Free Cash Flow (FCF) in FY'25 [73].

Despite the earnings beat, the company's shares experienced a decline, suggesting investor concerns about slowing growth momentum for the upcoming quarter. ...

The online marketplace posted a profit of $632 million, boosted by a 10% bump in merchandise volume. ...

Group 1 - E-commerce firm eBay forecasts annual revenue above Wall Street estimates, indicating strong demand for products such as collector's items and refurbished goods [1]

By Juby Babu (Reuters) -E-commerce firm eBay forecast profit for the crucial holiday quarter below Wall Street estimates amid ongoing macroeconomic uncertainty, sending its shares down 8.5% after the bell on Wednesday. Tariffs and changes to certain customs requirements in the U.S. have created significant uncertainty for small businesses, while concerns over escalating prices for imported goods have weighed on consumer confidence. EBay has continued to see macroeconomic challenges across international ...

Exhibit 99.1 eBay Inc. Reports Third Quarter 2025 Results San Jose, California, October 29, 2025 – eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today reported financial results for its third quarter ended September 30, 2025. "Q3 was another strong quarter for eBay, reflecting continued momentum across our marketplace and disciplined execution of our strategy," said Jamie Iannone, Chief Executive Officer of eBay. "We're transforming the eBa ...