eBay sales were virtually flat in the second quarter of 2024, growing 1% year-over-year, while eBay grew Q2 revenue by 2% on a currency-neutral basis in the quarter.
eBay CEO Jamie Iannone said in Wednesday’s press release, “eBay’s strong Q2 results mark another step toward achieving sustainable, long-term growth. 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.”
The following is an excerpt from eBay’s press release, which can be found on the eBay Inc. website:
Second Quarter Financial Highlights
- Revenue 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.
guess the walmart dope forgot his magic wand
lucky them, my sales dropped 14% in 2nd quarter
*** Good for Ebay ***
In the current state of general retail, “not” losing money is a good thing. Already reported on U.S. economic news, retail sales, nationally, slowed for Q2.
%1 ??? That’s it?
Where’s all that advertising money going?? I guess it proves that it doesn’t really work so well does it!
eBay’s strong Q2 results mark another step toward achieving sustainable, long-term growth. 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.”
and the so-called investors still believe this gibberish?
Well, better than McDonald’s, which saw a 0.7% drop. And as noted, overall retail sales were down in the US in Q2, consistent with rising unemployment. My daughter is currently jobless after several months of fruitless searching around here (mid Atlantic) for entry level jobs. My own sales are holding steady. Hope the Fed cuts rates this fall, and now looks like they will. That may juice things a bit.