EBAY — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-04-29

• As a global commerce leader and third-party marketplace, our technologies and services are designed to provide buyers choice and a breadth of relevant inventory from around the globe and to enable sellers’ access to eBay’s 136 million buyers worldwide. Our business model is designed such that we are…

• eBay’s strategy is centered on reinventing the future of ecommerce for enthusiasts by delivering trusted, engaging shopping experiences for our customers. Our approach leverages our 30+ years of global commerce expertise and data with advanced technology, including the use of artificial intelligence…

• Net revenues increased 19% to $3,089 million for the three months ended March 31, 2026 compared to $2,585 million during the same period in 2025.

• Operating margin decreased to 19.8% for the three months ended March 31, 2026 compared to 23.6% during the same period in 2025.

• We received a $194 million cash distribution related to our equity investment in Aurelia during the three months ended March 31, 2026.

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• Gross Merchandise Volume (“GMV”) grew during the first nine months of 2025 as we executed on our strategy across Focus Categories, country-specific investments, and horizontal initiatives. GMV growth was partially offset by pressure in discretionary spending across certain markets primarily resultin…

• Net revenues increased 9% to $2,820 million for the three months ended September 30, 2025 compared to $2,576 million during the same period in 2024. The increase in net revenues was primarily due to higher GMV, increased penetration of first party advertising and the ramping of our U.K. managed ship…

• Operating margin decreased to 20.4% for the three months ended September 30, 2025 compared to 23.1% during the same period in 2024 primarily due to higher non-recurring general and administrative expenses related to legal matters and restructuring.

• On October 22, 2025, we redeemed the $425 million aggregate principal amount of our previously outstanding 5.900% senior notes due in November 2025. Total cash consideration paid was $425 million, as the redemption price was equal to 100% of the principal amount. In addition, we paid accrued and unp…

• In October 2025, our Audit Committee, pursuant to delegated authority from our Board of Directors (our “Board”), declared a quarterly cash dividend of $0.29 per share of common stock to be paid on December 12, 2025 to stockholders of record as of November 28, 2025.

Text added vs the prior filing · source: 10-Q · 2026-04-29

• •significant variation in our operating and financial results, including GMV and net revenues;

• •our ability to generate revenue from our advertising products, including our Promoted Listings;

• •our ability to keep pace with technological changes, including emerging AI technologies, and with changes in consumer demands and expectations;

• •our ability to operate internationally and generate revenue from our international operations and our exposure to costs and risks in connection therewith;

• •the impact of changes in global trade policies on our revenue, profit and ability to support cross-border trade;

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• •fluctuations in, and our ability to predict, our results of operations and cash flows;

• •our ability to convert visits into sales for our sellers, attract and retain sellers and buyers, and execute on our business strategy;

• •our ability to generate revenue from our foreign operations and expand in international markets;

• •the impact of inflationary pressure, changes in tariffs and global tariff policies and regulations, the overall uncertainty surrounding international trade relations, fluctuations in foreign currency exchange rates, elevated interest rates, geopolitical events such as the ongoing war in Ukraine and…

• •our ability to keep pace with rapid technological developments or continue to innovate and create new initiatives to provide new programs, products and services;

Text added vs the prior filing · source: 10-Q · 2026-04-29

• •significant variation in our operating and financial results, including GMV and net revenues;

• •our ability to generate revenue from our advertising products, including our Promoted Listings;

• •our ability to keep pace with technological changes, including emerging AI technologies, and with changes in consumer demands and expectations;

• •our ability to operate internationally and generate revenue from our international operations and our exposure to costs and risks in connection therewith;

• •the impact of changes in global trade policies on our revenue, profit and ability to support cross-border trade;

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• •fluctuations in, and our ability to predict, our results of operations and cash flows;

• •our ability to convert visits into sales for our sellers, attract and retain sellers and buyers, and execute on our business strategy;

• •our ability to generate revenue from our foreign operations and expand in international markets;

• •the impact of inflationary pressure, changes in tariffs and global tariff policies and regulations, the overall uncertainty surrounding international trade relations, fluctuations in foreign currency exchange rates, elevated interest rates, geopolitical events such as the ongoing war in Ukraine and…

• •our ability to keep pace with rapid technological developments or continue to innovate and create new initiatives to provide new programs, products and services;

Text added vs the prior filing · source: 10-Q · 2026-04-29

• •significant variation in our operating and financial results, including GMV and net revenues;

• •our ability to generate revenue from our advertising products, including our Promoted Listings;

• •our ability to keep pace with technological changes, including emerging AI technologies, and with changes in consumer demands and expectations;

• •our ability to operate internationally and generate revenue from our international operations and our exposure to costs and risks in connection therewith;

• •the impact of changes in global trade policies on our revenue, profit and ability to support cross-border trade;

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• •fluctuations in, and our ability to predict, our results of operations and cash flows;

• •our ability to convert visits into sales for our sellers, attract and retain sellers and buyers, and execute on our business strategy;

• •our ability to generate revenue from our foreign operations and expand in international markets;

• •the impact of inflationary pressure, changes in tariffs and global tariff policies and regulations, the overall uncertainty surrounding international trade relations, fluctuations in foreign currency exchange rates, elevated interest rates, geopolitical events such as the ongoing war in Ukraine and…

• •our ability to keep pace with rapid technological developments or continue to innovate and create new initiatives to provide new programs, products and services;

Text added vs the prior filing · source: 10-Q · 2026-04-29

• •significant variation in our operating and financial results, including GMV and net revenues;

• •our ability to generate revenue from our advertising products, including our Promoted Listings;

• •our ability to keep pace with technological changes, including emerging AI technologies, and with changes in consumer demands and expectations;

• •our ability to operate internationally and generate revenue from our international operations and our exposure to costs and risks in connection therewith;

• •the impact of changes in global trade policies on our revenue, profit and ability to support cross-border trade;

Text removed vs the prior filing · source: 10-Q · 2025-10-30

• •fluctuations in, and our ability to predict, our results of operations and cash flows;

• •our ability to convert visits into sales for our sellers, attract and retain sellers and buyers, and execute on our business strategy;

• •our ability to generate revenue from our foreign operations and expand in international markets;

• •the impact of inflationary pressure, changes in tariffs and global tariff policies and regulations, the overall uncertainty surrounding international trade relations, fluctuations in foreign currency exchange rates, elevated interest rates, geopolitical events such as the ongoing war in Ukraine and…

• •our ability to keep pace with rapid technological developments or continue to innovate and create new initiatives to provide new programs, products and services;