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Jun 30, 2023
eBay Q2 2023 Earnings Report
eBay's Q2 2023 results exceeded expectations, driven by strategic initiatives and strong performance in key metrics.
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.
Revenue by Segment
Revenue by Geographic Location
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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