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Mar 31, 2022
eBay Q1 2022 Earnings Report
eBay's Q1 2022 results exceeded expectations amidst macro headwinds.
Key Takeaways
eBay reported Q1 2022 revenue of $2.5 billion, a 6% decrease year-over-year, and a GAAP EPS of $(2.28). Despite macro headwinds, the company remains confident in its long-term strategy and focus category playbook.
Revenue was $2.5 billion, down 6% as-reported and 5% FX-Neutral.
Gross Merchandise Volume (GMV) was $19.4 billion, down 20% as-reported and 17% FX-Neutral.
GAAP net loss from continuing operations was $1.3 billion, or $(2.28) per diluted share.
Non-GAAP net income from continuing operations was $625 million, or $1.05 per diluted share.
Forward Guidance
eBay provided guidance for Q2 2022 with revenue between $2.35 - $2.40 billion and diluted EPS from continuing operations between $0.61 - $0.65 (GAAP) and $0.87 - $0.91 (Non-GAAP). Full year 2022 guidance includes revenue between $9.6 - $9.9 billion and diluted EPS from continuing operations between $(0.25) - $(0.05) (GAAP) and $3.90 - $4.10 (Non-GAAP).
Positive Outlook
- Net Revenue Q2 2022: $2.35 - $2.40 billion
- Diluted EPS from continuing operations Q2 2022: $0.61 - $0.65
- Diluted Non-GAAP EPS Q2 2022: $0.87 - $0.91
- Net Revenue Full Year 2022: $9.6 - $9.9 billion
- Diluted Non-GAAP EPS Full Year 2022: $3.90 - $4.10
Challenges Ahead
- Organic FX-Neutral Y/Y Growth Q2 2022: (9)% - (7)%
- Diluted GAAP EPS Full Year 2022: $(0.25) - $(0.05)
- Organic FX-Neutral Y/Y Growth Full Year 2022: (6)% - (3)%
- Macroeconomic headwinds
Historical Earnings Impact
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Avg. Return Before/After Earnings
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