Business
eBay Inc. Reports Better Than Expected Third Quarter 2021 Results
- Revenue of $2.5 billion, up 11% on an as-reported basis and up 10% on an FX-Neutral basis - Gross Merchandise Volume of $19.5 billion, down 10% on an
About this update from Ebay Inc.
[{"type":"text","content":"- Revenue of $2.5 billion, up 11% on an as-reported basis and up 10% on an FX-Neutral basis\n - Gross Merchandise Volume of $19.5 billion, down 10% on an as-reported basis and down 12% on an FX-Neutral basis\n - GAAP and Non-GAAP EPS per diluted share of $0.43 and $0.90, respectively, on a continuing operations basis\n - GAAP and Non-GAAP operating margin of 26.5% and 31.7%, respectively\n - Returned $2.4 billion to shareholders in Q3, including $2.3 billion of share repurchases and $116 million paid in cash dividends\n\n\nSAN JOSE, Calif., Oct. 27, 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 third quarter ended September 30, 2021.\n\n \n \n \n \n \n \n\n \n\"Our team delivered another strong quarter, once again meeting or surpassing our expectations for all key business metrics, making further progress on our multi-year strategy,\" said Jamie Iannone, Chief Executive Officer of eBay. \"Our Q3 results, driven by the near completion of our managed payments migration, expansion of our advertising portfolio, and volume growth in our focus categories, demonstrate that our strategic playbook continues to work. I'm proud that we've been able to increase customer satisfaction, build trust, and drive steady innovation, all while continuing to set and make progress toward our ambitious goals tied to climate action.\"\nThird Quarter Financial Highlights\nRevenue was $2.5 billion, up 11% on an as-reported basis and up 10% on a foreign exchange (FX) neutral basis. Gross merchandise volume (GMV) was $19.5 billion, down 10% on an as-reported basis and down 12% on an FX-Neutral basis. GAAP net income from continuing operations was $283 million, or $0.43 per diluted share. Non-GAAP net income from continuing operations was $591 million, or $0.90 per diluted share. Generated $661 million of operating cash flow and $502 million of free cash flow from continuing operations. Returned $2.4 billion to shareholders in Q3, including $2.3 billion of share repurchases and $116 million paid in cash dividends. Annual active buyers declined by 5%, for a total of 154 million global active buyers. Annual active sellers were flat at 19 million global active sellers.(1)Business Highlights\neBay updated its capital allocation plans ...