eBay Inc. reported a 6% increase in net revenues for the second quarter of 2025, reaching $2.73 billion compared to $2.57 billion in the same period last year. The growth was primarily driven by higher gross merchandise volume (GMV) and an expansion in advertising revenues, which rose by 21% to $482 million. However, the company's operating margin decreased to 17.7% from 21.3% year-over-year, attributed to increased general and administrative expenses related to legal matters and restructuring efforts. For the first half of 2025, eBay's net revenues totaled $5.32 billion, up from $5.13 billion in the prior year.
In terms of profitability, eBay's net income for the second quarter was $368 million, or $0.79 per diluted share, compared to $224 million, or $0.45 per diluted share, in the same quarter of 2024. The company reported cash used in continuing operating activities of $307 million for the quarter, a significant decline from the $367 million generated in the same period last year. The decline in cash flow was largely due to increased tax payments and other working capital movements.
eBay's operational metrics showed a positive trend, with GMV increasing to $19.51 billion for the second quarter, reflecting a 6% year-over-year growth. The company noted that growth was particularly strong in its Focus Categories, including collectibles and luxury goods. Internationally, GMV growth was bolstered by cross-border trade, especially from Greater China and Japan. However, eBay faced challenges in the U.K. and Germany due to ongoing macroeconomic pressures.
Strategically, eBay made significant moves in its capital management, repurchasing $625 million of its common stock during the quarter and declaring a quarterly cash dividend of $0.29 per share, payable in September 2025. The company also received a $225 million cash distribution related to its equity investment in Aurelia. Looking ahead, eBay anticipates continued pressure from geopolitical events, inflation, and changes in global trade policies, which may impact its performance in the second half of 2025. The company remains focused on executing its strategic initiatives to drive growth and enhance shareholder value.
About EBAY INC
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