Business
eBay Inc. Reports Better Than Expected Second Quarter 2020 Results and Raises Full Year Guidance
- Revenue of $2.9 billion - Gross Merchandise Volume of $27.1 billion, up 26% on an as-reported basis and up 29% on a FX-Neutral basis - GAAP and Non-GAAP EPS
About this update from Ebay Inc.
[{"type":"text","content":"- Revenue of $2.9 billion\n - Gross Merchandise Volume of $27.1 billion, up 26% on an as-reported basis and up 29% on a FX-Neutral basis\n - GAAP and Non-GAAP EPS per diluted share of $1.04 and $1.08, respectively, on a continuing operations basis\n - GAAP and Non-GAAP operating margin of 28.7% and 34.3%, respectively\n - Returned $112 million in cash dividends to shareholders\n - Entered into a definitive agreement to transfer the Classifieds business to Adevinta ASA for total consideration valued at approximately $9.2 billion\n\n\nSAN JOSE, Calif., July 28, 2020 /PRNewswire/ -- eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today reported financial results for its second quarter ended June 30, 2020.\n\n \n \n \n \n \n \n\n \n\"Our team's focus on supporting small businesses and communities during a period of heightened need allowed us to re-engage our existing buyers and sellers while introducing approximately 8 million new customers to our platform during the quarter,\" said Jamie Iannone, Chief Executive Officer of eBay Inc. \"This contributed to a very strong second quarter, ahead of expectations. Recently, we've also accelerated the rollout of managed payments and signed an agreement to transfer our Classifieds business to Adevinta, bringing together two highly complementary businesses to create the world's largest online classifieds group.\"\n\"Our purpose has always been to empower people and create economic opportunity for all,\" continued Iannone. \"As we look to the future, our vision is clear - we will build on our powerful strengths to become the best global marketplace for buyers and sellers through a technology-led reimagination. We will accomplish this vision through three key priorities: build compelling next-gen experiences for our enthusiasts; become the partner of choice for sellers; and cultivate life-long trusted buyer relationships.\" \nSecond Quarter Financial Highlights\nRevenue was $2.9 billion, up 18% on an as-reported basis and up 21% on a foreign exchange (FX) neutral basis. Annual active buyers grew by 5%, adding approximately 8 million buyers in the quarter, for a total of 182 million global active buyers. Gross merchandise volume (GMV) was $27.1 billion, with growth accelerating sequentially since Q1, and up 26% on an as-reported b...