$EBAY

EBAY INC

CIK:0001065088|SEC Filings

CONDENSED CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net revenues	$ 3,134	$ 2,730	$ 6,223	$ 5,315
Cost of net revenues	832	750	1,634	1,447
Gross profit	2,302	1,980	4,589	3,868
Operating expenses:
Sales and marketing	697	586	1,370	1,122
Product development	484	452	934	845
General and administrative	306	371	716	632
Transaction losses	133	86	271	167
Amortization of acquired intangible assets	6	6	11	12
Total operating expenses	1,626	1,501	3,302	2,778
Income from operations	676	479	1,287	1,090
Gain (loss) on equity investments and warrants, net	2	(4)	4	(6)
Interest expense	(65)	(62)	(126)	(123)
Interest income and other, net	52	59	118	140
Income from continuing operations before income taxes	665	472	1,283	1,101
Income tax provision	(113)	(107)	(219)	(235)
Income from continuing operations	552	365	1,064	866
Loss from discontinued operations, net of income taxes	(2)	(1)	(2)	(3)
Net income	$ 550	$ 364	$ 1,062	$ 863
Income (loss) per share - basic:
Continuing operations (in usd per share)	$ 1.24	$ 0.79	$ 2.38	$ 1.86
Discontinued operations (in usd per share)	0	0	0	(0.01)
Net income per share - basic (in usd per share)	1.24	0.79	2.38	1.85
Income (loss) per share - diluted:
Continuing operations (in usd per share)	1.21	0.78	2.33	1.83
Discontinued operations (in usd per share)	0	0	0	(0.01)
Net income per share - diluted (in usd per share)	$ 1.21	$ 0.78	$ 2.33	$ 1.82
Weighted-average shares:
Basic (in shares)	445	461	447	465
Diluted (in shares)	455	470	457	473

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 550	$ 364	$ 1,062	$ 863
Loss from discontinued operations, net of income taxes	2	1	2	3
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Noncash Item [Abstract]
Transaction losses	133	86	271	167
Depreciation and amortization			194	131
Stock-based compensation			338	301
Deferred income taxes			43	(58)
Gain on investments, warrants and other, net			(30)	(3)
Changes in assets and liabilities, net of acquisition effects			(361)	(989)
Net cash provided by continuing operating activities			1,519	415
Net cash used in discontinued operating activities			(27)	0
Net cash provided by operating activities			1,492	415
Cash flows from investing activities:
Purchases of property and equipment			(295)	(212)
Purchases of investments			(1,409)	(5,007)
Maturities of investments			1,064	6,530
Sales of investments			684	0
Shareholder distributions from equity investments			194	225
Acquisitions and other			(39)	(92)
Net cash provided by investing activities			199	1,444
Cash flows from financing activities:
Proceeds from issuance of common stock			64	93
Repurchases of common stock			(809)	(1,239)
Payments for taxes related to net share settlements of restricted stock units and awards			(189)	(137)
Payments for dividends	(138)	(134)	(277)	(268)
Repayment of senior notes			(750)	(800)
Proceeds from issuance of commercial paper			739	943
Repayment of commercial paper			0	(818)
Net funds receivable and payable activity			213	288
Other			(16)	(26)
Net cash used in financing activities			(1,025)	(1,964)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(23)	50
Net increase (decrease) in cash, cash equivalents and restricted cash			643	(55)
Cash, cash equivalents and restricted cash at beginning of period			3,055	3,286
Cash, cash equivalents and restricted cash at end of period	3,698	3,231	3,698	3,231
Cash paid for:
Interest			118	132
Income taxes			326	1,120
Cash and cash equivalents	2,310	2,070	2,310	2,070
Customer accounts (including restricted cash of $446 and $365, respectively)	1,231	1,007	1,231	1,007
Restricted cash included in other current assets	156	152	156	152
Restricted cash included in other assets	1	2	1	2
Cash, cash equivalents and restricted cash	$ 3,698	$ 3,231	$ 3,698	$ 3,231

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 2,310	$ 1,867
Short-term investments	997	1,052
Customer accounts and funds receivable	1,589	1,280
Other current assets	1,107	887
Total current assets	6,003	5,086
Long-term investments	2,317	2,767
Property and equipment, net	1,301	1,165
Goodwill	4,471	4,467
Operating lease right-of-use assets	394	428
Deferred tax assets	2,929	2,959
Other assets	518	565
Total assets	17,933	17,437
Current liabilities:
Short-term debt	1,593	750
Accounts payable	353	242
Customer accounts and funds payable	1,589	1,280
Accrued expenses and other current liabilities	2,334	2,257
Income taxes payable	23	108
Total current liabilities	5,892	4,637
Operating lease liabilities	278	315
Deferred tax liabilities	1,446	1,431
Long-term debt	5,142	5,996
Other liabilities	510	575
Total liabilities	13,268	12,954
Commitments and Contingencies (Note 10)
Stockholders’ equity:
Common stock, $0.001 par value; 3,580 shares authorized; 445 and 449 shares outstanding	2	2
Additional paid-in capital	19,009	18,785
Treasury stock at cost, 1,316 and 1,307 shares	(54,621)	(53,807)
Retained earnings	40,072	39,296
Accumulated other comprehensive income	203	207
Total stockholders’ equity	4,665	4,483
Total liabilities and stockholders’ equity	$ 17,933	$ 17,437