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.”
Iannone spin and smoke and mirrors. Since GMV includes taxes, then eBay got a free boost from Trump’s tariffs, which kicked in last quarter. And from higher shipping prices. What really matters is how much eBay revenue increased net of shipping and taxes, and then net out advertising revenue from promoted listings. My guess is no much. So eBay resorts to stock buybacks to prop up the share price and keep Wall Street happy. Old corporate trick.
the magician waves his magic wand…….poof….more smoke and mirrors
magical innovations
None is %100 correct in his/her statements
ANYONE that is stupid enough to say that these numbers are true is a criminal.
For the last few quarters, eBay has ONLY posted %2 gains (heavy accounting going on to make those numbers real), and has continuously lost both sellers and buyers.
Now you are going to tell me that theres a MAGIC %8 gain? HOGWASH
Did eBay gain %8 new buyers this quarter? No, of course NOT
OR did eBays current buyers magically this quarter find so much money in their pockets (lottery? tax rebates?) that they needed to spend it – ON EBAY and POOF – %10 growth? More garbage
As said above SO well, FVF on shipping – 2 increases this year AND higher PPC and advertising did all the heavy lifting.
BTW I Have a bridge in Brooklyn CHEAP if you want it!
Not here, my sales are down 25% and had more no sale days then years pass
I do not believe any numbers from eBay!
“eBay calculates GMV as inclusive of shipping fees”
eBay heavily promotes their free shipping scam, which makes the cost of items more expensive as the seller has to bake the maximum cost of shipping into the price of the item, so eBay makes more money. So shipping is not inclusive on any items with free shipping as it included in the price of the item which eBay does count.
Since 2010; however, eBay has engaged in wholesale fraud with its FVF program on shipping, which eBay had the gall to claim would lower shipping prices.
The correct way to implement FVF on shipping which I have been saying even before they implemented it and only announced it was to compare the cost of labels to what was charged the customer and only charge FVF for a difference.
Third part labels would also be included since this only requires modifications of eBay’s API. Third party label providers already utilize eBay’s API when they upload tracking numbers to eBay for your labels.
This would encourage people to move from retail purchases of shipping. It would also allow sellers to charge the commercial rate since no FVF would be charged on it.
Instead eBay choose to DEFRAUD!
In a shipping related video watch a thief commit massive postal revenue fraud by wrapping Priority Mail boxes in paper so he can send them via Ground Advantage. He knows he committing a crime as he removed comments pointing it out to him. Since he claims to have sold “X” thousands of paintings on eBay we are talking a large scale revenue.
https://www.youtube.com/watch?v=pgicWI799Ns