eBay Q1 2023 Earnings Report
Key Takeaways
eBay Inc. reported its Q1 2023 financial results, with revenue of $2.5 billion, up 1% year-over-year, and a GAAP EPS of $1.05. The company's GMV was $18.4 billion, down 5% year-over-year. eBay generated $709 million in free cash flow and returned $384 million to shareholders through share repurchases and dividends.
Revenue reached $2.5 billion, a 1% increase as reported and a 3% increase on an FX-Neutral basis.
Gross Merchandise Volume (GMV) totaled $18.4 billion, reflecting a 5% decrease as reported and a 2% decrease on an FX-Neutral basis.
GAAP net income from continuing operations was $569 million, resulting in $1.05 earnings per diluted share.
The company generated $841 million in operating cash flow and $709 million in free cash flow from continuing operations.
eBay
eBay
Forward Guidance
eBay is providing the following guidance for continuing operations for Q2 2023.
Positive Outlook
- Net revenues are expected to be between $2.47 billion and $2.54 billion.
- Organic FX-Neutral Y/Y Growth is expected to be between 1% and 4%.
- Diluted GAAP EPS is projected to be in the range of $0.65 to $0.70.
- Diluted Non-GAAP EPS is anticipated to be between $0.96 and $1.01.
- The company's Board of Directors has declared a cash dividend of $0.25 per share of the company's common stock.