eBay sales (GMV) were up 10% to $20.1 billion in the third quarter of 2025, year-over-year, or up 8% on a currency-neutral basis. Revenue was up 9% to $2.8 billion, or up 8% on a currency-neutral basis. (eBay calculates GMV as inclusive of shipping fees and taxes, without adjustment for returns or cancellations.) eBay posted the Q3 results on Wednesday.
eBay’s focus categories grew over 15% year-over-year in the quarter, outpacing the remainder of the marketplace by about 11 points. And it reported 16 million “enthusiast” buyers, defined as buyers with at least 6 purchase days and $800+ annual spend, a trailing 12-month metric.
eBay reported 134 million “active” buyers, which consist of all buyers who paid for a transaction on eBay Marketplace platforms within the previous 12-month period. eBay notes that buyers may register more than once, and as a result, may have more than one account. It also noted that its acquisitions did not materially impacted the number of active Buyers.
eBay said its Q3 total advertising offerings generated $525 million of revenue, which represented 2.6% of GMV. First-party advertising products on the eBay platform delivered $496 million of revenue in the third quarter of 2025, up 25% on an as-reported basis and up 23% on an FX-Neutral basis.
eBay CEO Jamie Iannone said in Wednesday’s earnings press release: “Q3 was another strong quarter for eBay, reflecting continued momentum across our marketplace and disciplined execution of our strategy. We’re transforming the eBay experience through AI built on 30 years of unique insights, while enhancing trusted programs in shipping, live commerce and circular fashion. These innovations are deepening engagement with enthusiasts and positioning eBay for continued success as we reinvent the future of ecommerce.”
