eBay grew sales (GMV, or Gross Merchandise Volume) by 29% FX-neutral in the second quarter to $27.1 billion, it announced Tuesday. In the US, GMV was up 35%.
eBay grew its total revenue by 21% FX-neutral in the quarter (April, May, June) to $2.9 billion.
eBay called its second-quarter performance "better than expected."
Some readers may remember eBay had issued a press release in June advising investors it was performing significantly better than what it had expected in April when it published its Q1 earnings release.
In June, eBay had attributed strong demand to increased organic traffic, better marketing efficiency, and higher platform conversion. Noticeably absent was any mention of the pandemic, which has boosted online shopping.
As we noted last month, the stronger than expected growth comes after years of stagnant and declining growth rates for eBay.
In the second quarter, eBay grew annual active buyers by 5%, adding approximately 8 million buyers for a total of 182 million global active buyers.
Also of note, eBay included the following information in its press release:
"Marketplace platforms have experienced strength in key metrics - traffic, buyer acquisition, conversion, sold items, and GMV - driven by consumer behavior shift to e-commerce shopping resulting from the COVID-19 pandemic. All major verticals accelerated significantly compared to previous quarters, including Home & Garden, Electronics, Fashion, Auto Parts and Collectibles.
"eBay's managed payments reached a significant milestone at the end of July with the expiration of its Operating Agreement with PayPal. Now, eBay is able to scale its management of payments globally, offering buyers more choice and flexibility in payment options and simplifying business operations for sellers. Since launch, eBay has managed payments for nearly 42,000 sellers and processed $4.7 billion in GMV."