Business
eBay Inc. Reports First Quarter 2020 Results and Provides COVID-19 Business Update
- Revenue of $2.4 billion - GAAP and Non-GAAP EPS per diluted share of $0.64 and $0.77, respectively, on a continuing operations basis - GAAP and Non-GAAP
About this update from Ebay Inc.
[{"type":"text","content":"- Revenue of $2.4 billion\n - GAAP and Non-GAAP EPS per diluted share of $0.64 and $0.77, respectively, on a continuing operations basis\n - GAAP and Non-GAAP operating margin of 26.5% and 31.5%, respectively\n - Returned $4.1 billion to shareholders in Q1, including $4.0 billion of share repurchases and $114 million paid in cash dividends\n - Completed the sale of StubHub to viagogo for $4.1 billion in proceeds, subject to working capital adjustments\n - Deploying well over $100 million to support employees, communities and customers during the COVID-19 pandemic\n - Shelter-in-place dynamics affecting the business, Marketplace platforms seeing surge in demand while Classifieds platforms impacted by temporary dealer closures and advertising slowdown\n\n\nSAN JOSE, Calif., April 29, 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 first quarter ended March 31, 2020.\n\n \n \n \n \n \n \n\n \n\"During these unprecedented times, I am extremely proud of how our team has come together to support one another, our buyers and sellers, our communities and the business,\" said Scott Schenkel, eBay Inc. \"As we look at Q1, I am pleased that we delivered on all of our commitments for the quarter, with key metrics such as Buyers, GMV and Revenue performing at or better than our expectations. Over the past several months, we have remained focused and clear-eyed about the strategic direction of the company and have driven substantial changes to position the business for sustainable and profitable long-term growth.\" \n\"I appreciate the team's hard work in the first quarter and their efforts to maintain focus amid so many factors affecting the business and the industry,\" said Jamie Iannone, Chief Executive Officer of eBay Inc. \"I'm thrilled to return to eBay this week as CEO and I look forward to building on the positive momentum in the business, continuing to evolve the Company's strategy and maximizing value for our shareholders.\" \nCOVID-19 Response and Business Impacts\nWe believe our strong balance sheet, stable cash flows, low capital intensity and disciplined capital management approach gives us the strength and flexibility to adapt to this tough economic environment and to enable investment in our sellers an...