eBay grew both GMV (sales volume) and revenue 1%, or 2% on a foreign-exchange neutral basis. (eBay noted: “Gross Merchandise Volume consists of the total value of all paid transactions between users on our Marketplace platforms during the applicable period inclusive of shipping fees and taxes.”)
eBay is also going through a management shakeup, announcing Wednesday it is replacing its Chief Financial Officer (CFO) Steve Priest and making other changes that include the departure of its Chief Product Officer, Eddie Garcia.
eBay said its total 1st-quarter advertising offerings generated $442 million of revenue, representing 2.4% of GMV (some advertising is off-eBay). First-party advertising products on the eBay platform delivered $418 million of revenue in the first quarter, up 13% on an as-reported basis and up 14% on an FX-Neutral basis.
eBay ended the quarter (March 31, 2025) with 134 million active buyers, which was 1% higher than the end of Q1 last year, when it was 132 million. (eBay noted: “Active Buyers consist of all buyers who paid for a transaction on our Marketplace platforms within the previous 12-month period. Buyers may register more than once, and as a result, may have more than one account. Our acquisitions completed during the periods shown have not materially impacted Active Buyers.”)
Jamie Iannone, who celebrated his 5-year anniversary as CEO of eBay on Sunday, was quoted as follows in eBay’s earnings press release on Wednesday: “eBay’s first quarter results were ahead of expectations, as we delivered our fourth consecutive quarter of positive GMV growth. Our Focus Categories and geo-specific investments are driving momentum in the business, and we continue to innovate – leveraging Al to make our marketplace more efficient and intuitive for customers.”
The departing CFO was quoted: “We exceeded our quarterly financial metrics and continue to invest for the long-term health of our marketplace. Our teams have done a tremendous job executing on our strategy, while navigating a dynamic demand environment.”
The full press release is on the eBay Investor Relations website.