Sales on eBay Marketplace, referred to as Gross Merchandise Volume (GMV), were $21.5 billion in the second quarter, down 5% on an as-reported basis and down 1% on a FX-Neutral basis. Marketplace revenue was $2.2 billion, which was 1% growth on an as-reported basis and 3% on a FX-Neutral basis (foreign currency).
eBay CEO Devin Wenig called out managed payments in the company’s press release, which “continues to exceed expectations.” Managed payments is currently available only in the US to select sellers, and eBay revealed it is on track to be live in Germany by the end of 2019, pending regulatory approval. 6,000 sellers are in the managed payments program, which processed $270 million of GMV during the second quarter.
Wenig also called out first party advertising, which is “providing significant benefits to sellers.” Over 940,000 sellers leveraged first-party advertising to promote over 250 million listings in the second quarter, netting eBay $89 million in revenue, a year-over-year growth rate of over 130% on a FX-Neutral basis.
Wenig also said new features were making the eBay Marketplace easier to use.
eBay grew active buyers by 4% across all of its platforms, for a total of 182 million global active buyers.
eBay has been pressured to consider selling its StubHub and Classifieds units, and it presented a portfolio update as follows:
“eBay has taken two actions in the last several weeks to strengthen its portfolio. First, the company has reached a commercial agreement with Paytm Mall to bring eBay’s global inventory onto one of the largest marketplaces in India. Second, eBay has reached an agreement to sell its flash sale German business brands4friends. The company is also actively reviewing the role and value of StubHub and Classifieds in its portfolio to determine the best path forward to maximize shareholder value.”
See the complete press release on the eBay Investor Relations website.