Ina Steiner EcommerceBytes Blog
News and insight focusing on ecommerce.
by Ina Steiner, Editor of EcommerceBytes.com
Wed May 4 2022 15:36:32

eBay GMV Down 17 Percent in First Quarter from a Year Ago

By: Ina Steiner

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eBay Gross Merchandise Volume (GMV) was down 17% in the first quarter of 2022, year-over-year. Revenue was down 5%. And the number of active buyers dropped 13% from 163 million in Q1 2021 to 142 million in Q1 2022.

eBay CEO Jamie Iannone was quoted in today's earnings press release: "Our team has delivered another strong quarter, at the high end of our expectations. Despite the current macro headwinds, we remain confident in the long-term strategy we laid out during our Investor Day in March. We are building an eBay for the future with an eye toward delivering long-term, sustainable growth. Our enthusiast buyers continue to shop and engage on eBay regularly, and our results to date demonstrate our focus category playbook is working."

eBay highlighted the following in a section called First Quarter Financial Highlights:

- Revenue was $2.5 billion, down 6% on an as-reported basis and down 5% on a foreign exchange (FX) neutral basis.

- Gross merchandise volume (GMV) was $19.4 billion, down 20% on an as-reported basis and down 17% on an FX-Neutral basis.

- GAAP net loss from continuing operations was $1.3 billion, or $(2.28) per diluted share primarily driven by the change in fair value of our equity investments.

- Non-GAAP net income from continuing operations was $625 million, or $1.05 per diluted share.

- GAAP and Non-GAAP operating margin of 27.9% and 32.4%, respectively.

- Generated $629 million of operating cash flow and $546 million of free cash flow from continuing operations.

- Sold a portion of our shares in Adyen for $551 million.

- Returned $1.4 billion to shareholders, including $1.3 billion of share repurchases and $129 million paid in cash dividends.

The full press release including guidance and charts is available on the eBay corporate blog.



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by: GetAGrip This user has validated their user name.

Wed May 4 15:52:40 2022

These people are living in another world.  Sinking faster than the titanic.

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This user has validated their user name. by: Carl

Wed May 4 16:20:37 2022

""Our team has delivered another strong quarter..."
lol. Everything negative...yet it is span into a positive.
17% GMV down is huge!! Just watching the after hours trading, down -6.19% currently.
No one will be surprised. Sales grind to a halt for days until they flick a switch and turn you back on. Then a few sales come in again.
I can no longer depend on eBay like I could 7 or 8 years ago.
They toy with businesses so people are jumping ship.
I stopped buying bulk stock about a year ago. I have thousands of items to get rid off, I am slowly (VERY SLOWLY) running things down and looking at possibly doing something else.
I would love to keep selling, but I am not in control of my own business on eBay.

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by: RL15 This user has validated their user name.

Wed May 4 16:56:02 2022

thats what happens when you run off buyers and sellers.

nice spin Jamie....all negatives, you got a lot to be proud of

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by: ShortSeller This user has validated their user name.

Wed May 4 17:11:42 2022

When a business spends more time criminally harassing their detractors and zero time actually adding anything remotely useful to the platform this is the result. I bet they are praying for another fidget spinner windfall.

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by: Shanna This user has validated their user name.

Wed May 4 17:53:23 2022

Why has it taken 15 years and 3 CEOs before anyone decides, hey, let's make a stable platform to do business on. Think Bezos would put up with the daily glitches, hacks, and downtime on Amazon? No way.

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by: ShortSeller This user has validated their user name.

Wed May 4 20:03:02 2022

Never fear the downturn is about to reverse course! Ebay's Fulfilled by Amaz...err Vault is launching soon. Send your items to the latest lowest bidder 3PL who will mangl..err managed your merchandise for you. Don't worry if they go out of business and take your inventory with them like has happened before, the Ebay User Agreement has been updated to allow you to sue them for compensation as long as you willing to hop on the next flight to Mars.

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This user has validated their user name. by: Rexford

Wed May 4 20:10:01 2022

Looks like the promoted listings scheme is a show stopper. Someone get a shepherd's hook and get this guy off the stage.

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by: WaLK-aWAY This user has validated their user name.

Wed May 4 20:21:39 2022

Few words come to mind.
delusional, senile and bananas among others.
I'm curious if this Lannone fella is literally wandering the streets in a johnny gown and plastic identification wrist bracelet - loose and recently escaped from an asylum with a poor security staff . . . . ?  
Does he make this stuff up as he goes along???

What's even MORE entertaining are the individuals that genuinely trust and believe this verbal tripe being spewed and are eclipsed from basic common sense altogether.

YESTERDAY, I was actually searching for a used iphone8 plus Otterbox.
I have NEVER had such a horrific experience TRYING to actually shop for a simple item.  REMEDIAL keywords typed in.  "Iphone 8 plus otterbox".  
ALL parameters completely ignored.  It took me like forty mins to find a simple item that wasn't bootleg with fake boxes marked as "Re-manufactured" or completely wrong iphone models to sponsored garbage that had NOTHING to do with my SIMPLE search.
Now, I am not only CHASED AWAY as a used-to-be-seller, But I am at the end of my rope as a BUYER.

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by: COVID-19 This user has validated their user name.

Wed May 4 21:21:25 2022

eBay so broke it can't even afford to pay the few sycophants and cheerleaders to defend it on social media.

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by: alaska This user has validated their user name.

Wed May 4 23:28:34 2022

What did these morons expect after they eliminated most of the collectibles categories? Every year they make mind-boggling decisions that make it much harder to find things to buy and much harder to create a listing. They got rid of the wild card search. They messed up search totally. They took very specific sub-categories and merged them into gigantic categories of a million items or more. They figured we didn't need them with AI. Right! How has that worked out?

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by: ebayout This user has validated their user name.

Wed May 4 23:40:09 2022

ebay is anti-reality.
These are inflationary times. People want CHEAP.
They will sort by PRICE. Why the charade of PROMOTED LISTINGS?

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by: Mazdaman This user has validated their user name.

Wed May 4 23:47:51 2022

Very good comments above!

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by: Mazdaman This user has validated their user name.

Thu May 5 00:02:16 2022

Honestly, I've been in business for over 40 years in various industries (computer technology and others), and I've seen companies come and go.  But I have NEVER see a company that was as successful as eBay and with such a high profit margin decline so quickly while having a succession of CEOs who essentially "grease" the slide.

At one time eBay owned the segment, which seems to have been their downfall, as I recall the arrogance a new CEO, John Donahoe, showed when speaking to an audience of the eBay faithful in 2008.  He spoke of how eBay would "crush" an upstart company in the same market, since "we're the big bad eBay".  Yeah, John, I don't think so.

That "little upstart" company was Amazon.

A big problem with eBay CEOs is arrogance, which blinds them to the reality of what is occurring.  Yes, optimism is an asset, but arrogance leads to ignorance and an inability to gauge what is happening and adjust course to keep the ship afloat.

CEOs from Donahoe on have failed the board and investors; Donahoe mucked up the feedback system, handing the "key to the city" to buyers to abuse sellers and eBay.  That's really all it took, but Donahoe went further and IMO, started the slide that eBay has yet to recover from, if they ever can.

Based on the surveys we get to fill out, I doubt anyone is paying attention nor reading those surveys, which always ask the same questions.  To me, that says eBay is simply ignoring what sellers are saying, and what we're saying is that you're taking on water very quickly!

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by: Snapped This user has validated their user name.

Thu May 5 00:16:35 2022

All this guy needs is a fiddle and a couple marshmallows on a stick.  Oh, and will somebody please hand him a robe or something?  
#not-couture.

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by: ebayout This user has validated their user name.

Thu May 5 00:20:52 2022

I started ebay 24 years ago. Fees were 5% on JUST the sale, and I could ship 2 lbs. domestically via Priority Mail ANYWHERE for $3.95.
It doesn't cost anymore to transmit data today than 24 years ago, does it?
eBay has gotten fat off inflation. Inflation is now biting them in the butt.
I'm fed up with paying 12.9% on MY shipping expense.

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This user has validated their user name. by: Marie

Thu May 5 00:59:29 2022

Remember Ebay warned this would happen.  They changed how the GMV was calculated.  The GMV use to include cancelled and sales that were not paid.  They don't do that anymore.  GMV only contains sold and paid items.

Seems logical to me the GMV would be lower.

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by: johnny This user has validated their user name.

Thu May 5 01:21:16 2022

For the Love of God return simple sales for the home garage seller. I have new items in 100 percent condition. There is no longer an incentive for home sellers as there was in 2000. eBay will suffer tremendously moving forward. They have a ''bad rap''. Criminally attacking people who report on their inconsistencies is suspect in the entirety! The story out of eBay is criminal at best. Postage Fees?  FTC, Washington D.C. not performing their duties accordingly!

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by: Sierra This user has validated their user name.

Thu May 5 01:21:33 2022

My eBay sales are WAAAY down YOY. :-(

Thank goodness Etsy is doing a bit better!

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by: Chicago48 This user has validated their user name.

Thu May 5 02:16:49 2022

They must put $0 into marketing and ads because I see none on television and I don't see floating ads across the internet.  Maybe that's where they should start to rebuild their name brand.

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This user has validated their user name. by: Rexford

Thu May 5 04:08:12 2022

Ha! Cheerleader sounding like Iannone. But of course.  

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