Business
eBay Inc. Reports Second Quarter 2024 Results
Revenue of $2.6 billion, up 1% on an as-reported basis and up 2% on an FX-Neutral basis Gross Merchandise Volume of $18.4 billion, up 1% on an as-reported and
About this update from Ebay Inc.
[{"type":"text","content":"Revenue of $2.6 billion, up 1% on an as-reported basis and up 2% on an FX-Neutral basis Gross Merchandise Volume of $18.4 billion, up 1% on an as-reported and FX-Neutral basisGAAP and Non-GAAP earnings per diluted share of $0.45 and $1.18, respectivelyGAAP and Non-GAAP operating margin of 21.3% and 27.9%, respectivelyReturned $1.1 billion to stockholders in Q2, including $1.0 billion of share repurchases and $135 million paid in cash dividendsSAN JOSE, Calif., July 31, 2024 /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, 2024.\n\n \n \n \n \n \n \n\n \n\"eBay's strong Q2 results mark another step toward achieving sustainable, long-term growth,\" said Jamie Iannone, Chief Executive Officer at eBay. \"The continued momentum in Focus Categories contributed to our increase in GMV, while new AI capabilities are driving innovation across the platform and transforming the experience for eBay customers around the world.\"\n\"Q2 was another strong quarter for eBay as we exceeded expectations across our key financial metrics,\" said Steve Priest, Chief Financial Officer at eBay. \"We achieved positive year-over-year GMV growth, driven by our execution against strategic initiatives, despite an uneven discretionary demand environment in our major markets.\"\nSecond Quarter Financial Highlights\nRevenue was $2.6 billion, up 1% on an as-reported basis and up 2% on a foreign exchange (FX) neutral basis.Gross Merchandise Volume (GMV) was $18.4 billion, up 1% on an as-reported and FX-Neutral basis.GAAP net income from continuing operations was $226 million, or $0.45 per diluted share.Non-GAAP net income from continuing operations was $602 million, or $1.18 per diluted share.GAAP and Non-GAAP operating margin was 21.3% and 27.9%, respectively.Generated $367 million of operating cash flow and $278 million of free cash flow.We completed the previously announced sale of Adevinta shares in exchange for $2.4 billion in cash and shares of a newly privatized entity, Aurelia, which are valued at $1.9 billion at the closing of the transactions.Returned $1.1 billion to stockholders, including $1.0 billion of share repurchases and $135 million paid in cash dividends.Business Highlights\neBay closed a series...