eBay grew Gross Merchandise Volume 10% in the fourth quarter of 2025, year-over-year (or 8% foreign exchange-neutral). Revenue grew 15% for the quarter, year-over-year. The same day eBay released its Q4 earnings on February 18, it announced its decision to acquire used-fashion marketplace Depop from rival Etsy for $1.2 billion.
eBay reported 16 million enthusiast buyers at the end of 2025. (“Enthusiast Buyers are defined as buyers with at least 6 purchase days and $800+ (or local currency equivalent) annual spend,” calling it a trailing 12-month metric.)
eBay CEO Jamie Iannone said, “2025 was a milestone year for eBay, and our results reflect the strength of our strategy and the disciplined execution behind it. We have built significant momentum across our strategic priorities, delivering meaningful growth and reinforcing our leadership in recommerce. As we continue to harness AI to elevate the customer experience worldwide, eBay is in the strongest position it has been in years.”
In a Q4-2025 slide presentation on the investor relations section of its website, eBay outlined three priorities:
Focus Categories
- Focus Category GMV grew over +12% Y/Y in 2025, driven by strength in Collectibles, P&A, and Fashion.
- All Focus Categories contributed positively to growth in Q4.
C2C
- C2C GMV reaccelerated in 2025 following multiple years of investments in experience improvements.
- C2C segment represents ~1/4 of total GMV.
Recommerce
- Recommerce growth accelerated in 2025 as demand for pre-loved and refurbished goods continued to scale.
- Recommerce represents over 40% of total GMV.
For the full year 2025, eBay GMV grew 7% and revenue grew 8%. See the full eBay 4th quarter earnings press release on the eBay investor relations website.
must be nice, my sales where down 25%
%10?
I also believe in the Loch Ness Monster, Big Foot, The Yeti, and I have an barely used bridge in NYC that connects Brooklyn and Manhattan for sale … cheap!
If you want to know how well eBay did Q4, put up a pole and ask the sellers here how it REALLY went!
Do we think the sales have grown from a lot of sellers using the promoted listings to be found? I see a lot of sellers saying they are doing well with the ads and selling a lot of items. – I haven’t used them and my sales have flat lined this year.
If eBay sales are UP %10 then why spend $1.2B for ANYTHING?
Its not like Depop 1) has that kind of value, 2) brings anything NEW to the table.
eBays “position” (where it lies business wise today) is because of its (bad) behaviors. Lieing, cheating, stealing, insanely bad customer service – these behaviors are whats bringing eBay down.
Have bad sellers? DUMP THEM. Have bad buyers? DUMP them. You dont have to sell “everyone and his mother”, you just need to have a consistent base of both that functions correctly and produces money for all concerned.
Same BS as eBay advertising – nothing but a shell game. The house wins because its crooked and you loose.
How clicks did you item(s) get? They MAY tell you – and even so – can you believe the San Jose Mafia about any of it?
It indicates they have more sellers then buyers, no more no less.
If you believe that eBay made a %10 gain in sales this quarter – god bless your little heart ……. theres no fool like an old fool.