eBay Q2 2023 Earnings Report
Key Takeaways
eBay Inc. reported better-than-expected results for the second quarter of 2023. Revenue reached $2.5 billion, up 5% year-over-year, and GMV was $18.2 billion. The company's GAAP EPS was $0.32, while non-GAAP EPS was $1.03. eBay is focused on reinventing the future of ecommerce for enthusiasts.
Revenue increased by 5% to $2.5 billion, or 6% on an FX-Neutral basis.
Gross Merchandise Volume (GMV) totaled $18.2 billion, a decrease of 2% as reported, but only 1% on an FX-Neutral basis.
GAAP net income from continuing operations was $172 million, resulting in earnings per diluted share of $0.32.
The company generated $492 million in free cash flow from continuing operations.
eBay
eBay
Forward Guidance
eBay is providing the following guidance for continuing operations for Q3 2023.
Positive Outlook
- Revenue between $2.46 billion and $2.52 billion.
- Organic FX-Neutral Y/Y Growth of 2% - 4%.
- Diluted GAAP EPS between $0.67 and $0.72.
- Diluted Non-GAAP EPS between $0.96 and $1.01.
- The estimated GAAP diluted EPS above does not assume any gains or losses on our equity investments.
Challenges Ahead
- Guidance figures are forward-looking statements and involve risks and uncertainties.
- Future performance is difficult to predict.
- Revenue guidance is provided on an FX-Neutral basis and excludes incremental revenue from acquisitions or dispositions.
- Guidance is based on information available on the date of the press release, and the company assumes no obligation to update it.
- The company's actual results could differ materially from the provided information.