eBay grew Marketplaces GMV 5% on an FX-neutral basis to $19.8 billion in the second quarter of 2016 (April, May, and June), while Marketplaces revenue grew 3%. Adding in StubHub ($1.1 billion in GMV), eBay’s total GMV for the quarter was $20.9 billion, up 6%.
While 5-6 percent growth is not bad by eBay standards given its recent performance, it would generally be considered lackluster compared to ecommerce growth in general. eBay CEO Devin Wenig called it a good quarter with strong results and acceleration in growth, and he said there were “signs of momentum” in eBay’s business. eBay Chief Financial Officer Scott Schenkel said, “We are beginning to see early signs of recovery.”
During a conference call with Wall Street analysts on Wednesday, Wenig and Schenkel answered questions and revealed some new information. And while they said the company was on the right track and were seeing “green shoots” from the “seeds they had planted,” they also emphasized there was much work left to do.
eBay had a lot to say about its Structured Data initiative, which is helping it provide better user experiences for shoppers. In answering a question about the initiative, Wenig said the question for eBay was, “How do we deploy this in the search results pages where a lot of the traffic ends up. We’re just starting to experiment with that,” he said.
Users should also expect eBay to launch new categories as it recently did with Wine. And it appears Wenig is more comfortable with what exactly eBay’s brand represents: “Everybody can find their version of perfect,” which is distinct to eBay, he said. “I want every consumer in the world to understand that eventually,” he added.
He talked about reallocating eBay’s marketing spend, and said in major markets, eBay would be getting its brand message out through the second half of the year. This comes after some “consideration testing” in the US and UK that included a little bit of outdoor and television marketing.
Wenig was also asked about the impact of Amazon Prime Day on eBay sales. “Prime Day was a really good day for us,” he said. “It was a really strong day of growth for us.”
eBay’s Classifieds platforms reported revenue of $207 million, up 15%, primarily driven by the Automotive and Real Estate verticals across several key geographies, including Germany and Canada.
In the second quarter, eBay crossed the one billion live listings mark for the first time, and this month eBay’s board authorized an additional $2.5 billion stock repurchase program,
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