Business
eBay Inc. Reports Better Than Expected Second Quarter 2021 Results
- eBay Korea business reported as discontinued operations - Revenue of $2.7 billion, up 14% on an as-reported basis and up 11% on an FX-Neutral basis - Gross
About this update from Ebay Inc.
[{"type":"text","content":"- eBay Korea business reported as discontinued operations\n - Revenue of $2.7 billion, up 14% on an as-reported basis and up 11% on an FX-Neutral basis\n - Gross Merchandise Volume of $22.1 billion, down 7% on an as-reported basis and down 11% on an FX-Neutral basis\n - GAAP and Non-GAAP EPS per diluted share of $0.43 and $0.99, respectively, on a continuing operations basis\n - GAAP and Non-GAAP operating margin of 27.4% and 32.8%, respectively\n - Returned $1.6 billion to shareholders in Q2, including $1.5 billion of share repurchases and $121 million paid in cash dividends\n - Announced an agreement to sell 80.01% of eBay Korea business to Emart for approximately $3 billion\n - Completed the sale of the Classifieds business to Adevinta on June 24th for $13.3 billion, including $2.5 billion in cash and approximately 540 million shares of Adevinta stock (44% ownership)\n - Entered into an agreement to sell approximately 135 million shares of eBay's Adevinta stock to Permira for over $2.4 billion, reducing our ownership of Adevinta to 33%\n - Board of Directors expands share repurchase authorization by an additional $3 billion\n\n\nSAN JOSE, Calif., Aug. 11, 2021 /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, 2021.\n\n \n \n \n \n \n \n\n \n\"Today I am pleased to announce another strong quarter. In Q2, on an apples-to-apples basis, all key business metrics met or exceeded expectations and revenue growth was driven by the acceleration in our payments migration and growth in advertising,\" said Jamie Iannone, Chief Executive Officer at eBay. \"During the quarter, we hit several important milestones in our ongoing transformation, including the transition of eBay's Classifieds business - a deal that has already delivered exceptional shareholder value - and the announcement of the sale of our Korean business. We are simplifying our portfolio and growing our core while delivering significant shareholder value. \n\"We remain relentlessly focused on accelerating our product innovation by harnessing the power of next-gen technology and creating a more seamless experience for sellers,\" continued Iannone. \"We are delivering innovative category experiences for buyers and quickly evolvin...