eBay Inc

eBay Inc. operates a global online marketplace that connects buyers and sellers across more than 190 markets, with activity centered on its eBay.com platform, localized sites, off-platform marketplaces, and mobile apps. The company monetizes transactions through marketplace fees, advertising products, and shipping-related services, and in 2025 it enabled nearly $80 billion of GMV.

24,3 %

71,5 %

18,3 %

+7,9 %

1.10

1.10

— eBay Inc
%
Marketplace transaction services70% Fees earned from connecting buyers and sellers on eBay's marketplace, including final value and listing-related fees.
Advertising services20% Seller-paid promotion tools such as Promoted Listings that increase item visibility and conversion.
Shipping and fulfillment-related services7% Shipping fees and related transaction services that support completed purchases on the platform.
Subscriptions and other fees3% Store subscription fees, feature fees, foreign exchange fees, and other marketplace charges.

eBay serves individual consumers, small businesses, professional sellers, and merchants that want access to a large...

  • Consumer buyersprimary

    Individuals buying value, rare, used, refurbished, or collectible items on the marketplace.

  • Small and mid-sized sellersprimary

    Entrepreneurs and small businesses listing inventory to reach eBay's global buyer base at low entry cost.

  • Professional merchantssecondary

    Higher-volume sellers that buy advertising, store subscriptions, and other tools to improve visibility and conversion.

  • Motors and parts sellerssecondary

    Automotive parts sellers using fitment data, returns, and installation options to reduce purchase friction.

  • Luxury and high-value item sellerssecondary

    Sellers of watches, handbags, sneakers, and other high-value goods that rely on Authenticity Guarantee.

eBay reports revenue primarily by customer location, with the United States accounting for 52% of net revenues in the...

  • •United States represented 52% of net revenues in 9M 2025
  • •International markets represented 48% of net revenues in 9M 2025
  • •Operations span more than 190 markets through localized sites and apps
  • •U.K. and Germany are key international markets called out in risk disclosure
  • •Cross-border sales from Greater China are an important revenue source

eBay's strategy centers on improving marketplace liquidity through Focus Categories, country-specific investments, and...

01
Grow Focus Categories and marketplace liquidityshort-term

Higher engagement in priority categories improves GMV, take rate, and buyer retention.

02
Strengthen trust and safetyshort-term

Trust programs reduce friction and support conversion in a marketplace with fraud and quality risk.

03
Increase advertising monetizationmedium-term

Promoted Listings and related products diversify revenue beyond transaction fees.

04
Defend cross-border commercemedium-term

International trade is a major source of revenue and profit, but exposed to tariffs and policy changes.

eBay's results are sensitive to consumer spending, discretionary demand, and competitive pressure, because revenue...

high

Consumer spending and GMV volatility

Marketplace revenue is tied to transaction volume and seller activity, so weaker discretionary demand reduces monetization.

Scope
Global marketplace demand, especially discretionary categories
Materiality
high
high

Competition from other online and offline channels

Sellers and buyers can shift to retailers, marketplaces, search engines, and social commerce alternatives.

Scope
Marketplace traffic, seller acquisition, pricing power
Materiality
high
high

Cross-border trade and tariff policy changes

International and cross-border sales are important to revenue, and policy shifts can reduce trade flows or raise costs.

Scope
U.K., Germany, Greater China cross-border sales
Materiality
high
high

Fraud and trust/safety failures

Marketplace trust is central to conversion; fraud or poor enforcement can increase loss rates and reduce participation.

Scope
Buyer protection programs and payment flows
Materiality
high
high

Cybersecurity and systems interruptions

Platform outages or breaches can disrupt transactions and harm brand trust across a global marketplace.

Scope
Marketplace platforms, mobile apps, customer data
Materiality
high
Revenue recognition for marketplace and advertising fees
Affects quarterly revenue timing and take rate
Hedging gains and losses
Can distort reported revenue growth and margins
Legal contingencies and restructuring charges
Can create volatility in operating margin
Goodwill impairment
Future impairment could reduce earnings and equity

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: 11/08/2026