eBay Posts Strong Q1 Results Amidst Uncertain Trade Environment
The online auction giant eBay has reported a strong start to 2025, with gross merchandise volume (GMV) growth of nearly 2% to approximately $18.8 billion in the first quarter.
This marks the fourth consecutive quarter of positive GMV growth for the company, and revenue increased over 1% to $2.58 billion during the same period. Non-GAAP earnings per share grew by 10% to $1.38, with eBay returning approximately $760 million of capital to shareholders through repurchases and cash dividends.
eBay CEO Jamie Iannone acknowledged that the company is operating in a dynamic environment, citing changes to trade policies and consumer confidence as areas of concern. Despite these challenges, eBay's focus on cross-border trade has been beneficial, with its Speedpack shipping program streamlining international shipping for sellers across several major corridors.
"Our business is not immune to increased cost and friction associated with tariffs," Iannone said during the company's quarterly earnings call, "but our dynamic global supply and demand is an advantage in this environment. Our extensive selection of pre-loved and non-new in-season goods can also help mitigate pressure on consumers' discretionary budgets during periods of rising costs."
The benefits of eBay's focus category strategy were evident in the first quarter, with GMV growth exceeding 6% globally. Collectibles was the largest contributor to this growth, with year-over-year GMV increases driven by continued innovation among trading card hobbyists and the success of eBay's partnership with collectors' company PSA.
The PSA storefront on eBay has already sold over 500,000 trading cards since its launch, demonstrating the value proposition offered by the platform. As Iannone noted, "We're proud to have built a leading marketplace for trading card enthusiasts, and we look forward to continued growth in this area."
