eBay(US:EBAY)2025-10-30 20:07Financial Performance - Net revenues for Q3 2025 were $2,820 million, a 9.5% increase from $2,576 million in Q3 2024[19] - Gross profit for the nine months ended September 30, 2025, was $5,815 million, compared to $5,542 million for the same period in 2024, reflecting a 4.9% increase[19] - Net income for Q3 2025 was $632 million, slightly down from $634 million in Q3 2024[19] - Basic net income per share for Q3 2025 was $1.39, compared to $1.31 in Q3 2024, marking a 6.1% increase[19] - eBay's net income for the nine months ended September 30, 2025, was $1,503 million, an increase of 16% compared to $1,296 million for the same period in 2024[25] - The total net revenues for the nine months ended September 30, 2025, reached $8,135 million, a 5.6% increase from $7,704 million in the same period of 2024[54] Expenses and Liabilities - Operating expenses for the nine months ended September 30, 2025, totaled $4,139 million, up from $3,767 million in the same period of 2024, indicating a 9.8% increase[19] - Total current assets decreased to $5,393 million as of September 30, 2025, down from $7,567 million as of December 31, 2024[17] - Total liabilities decreased to $13,072 million as of September 30, 2025, compared to $14,207 million as of December 31, 2024[17] - Operating expenses for Q3 2025 totaled $1,423 million, a 13% increase from $1,254 million in Q3 2024, with general and administrative expenses rising by 46%[202] Cash Flow and Investments - Cash provided by operating activities for the nine months ended September 30, 2025, was $1,376 million, compared to $1,737 million for the same period in 2024, reflecting a decrease of 20.8%[25] - Cash, cash equivalents, and restricted cash at the end of the period increased to $3,513 million from $2,372 million in the previous year[26] - The total cash, cash equivalents, and restricted cash amounted to $3,513 million as of September 30, 2025[100] - The company repurchased $1,888 million of common stock during the nine months ended September 30, 2025, compared to $2,268 million in the same period of 2024[25] Equity and Stockholder Information - The total stockholders' equity at the end of the period was $4,719 million, down from $5,420 million in the previous year[23] - eBay repurchased 25 million shares of common stock at an average price of $74.03 per share, totaling $1.875 billion, leaving an authorized amount of $1.423 billion as of September 30, 2025[151] - The total stock-based compensation expense for the three months ended September 30, 2025, was $147 million, slightly up from $146 million in 2024, while for the nine months, it was $448 million compared to $446 million in 2024[156] Market Performance - Marketplace revenues increased to $2,295 million for the three months ended September 30, 2025, compared to $2,168 million in the same period of 2024, representing a growth of 5.9%[54] - eBay's advertising revenues rose to $525 million for the three months ended September 30, 2025, a significant increase of 28.7% from $408 million in the same period of 2024[54] - Gross Merchandise Volume (GMV) grew to $20,105 million for the three months ended September 30, 2025, reflecting a 10% increase year-over-year[192] Debt and Financing - Long-term debt decreased to $5,003 million as of September 30, 2025, from $5,752 million as of December 31, 2024[17] - As of September 30, 2025, total debt amounted to $6.751 billion, a decrease from $7.425 billion as of December 31, 2024, representing a reduction of approximately 9.0%[124] - The estimated fair value of senior notes was $5.7 billion as of September 30, 2025, down from $6.3 billion as of December 31, 2024, reflecting a decline of about 9.5%[131] Tax and Legal Matters - The company is under examination by tax authorities for the tax years 2010 to 2023, with potential adjustments being uncertain due to the number of years and matters involved[159] - The company paid $59 million as part of a settlement agreement with the DEA in January 2024, resolving allegations of noncompliance[140] Other Financial Metrics - The company reported a comprehensive income of $649 million for Q3 2025, compared to $701 million for Q3 2024[21] - The company recognized a total loss of $17 million from foreign exchange derivative contracts for the three months ended September 30, 2025[94] - The company recorded a discrete net tax benefit in Q3 2025 related to the One Big Beautiful Bill Act, which allows for immediate expensing of domestic R&D and certain capital expenditures[161]