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Sep 30, 2022
eBay Q3 2022 Earnings Report
eBay's Q3 2022 results demonstrated progress against long-term objectives and exceeded expectations for all key business metrics.
Key Takeaways
eBay Inc. reported its Q3 2022 financial results, with revenue of $2.4 billion, a 5% decrease year-over-year, and a GAAP net loss of $70 million. However, non-GAAP net income was $552 million, or $1.00 per diluted share. The company returned $421 million to shareholders through share repurchases and cash dividends.
Revenue was $2.4 billion, down 5% year-over-year.
Gross Merchandise Volume (GMV) was $17.7 billion, down 11% year-over-year.
GAAP net loss from continuing operations was $70 million, or $(0.13) per diluted share.
Non-GAAP net income from continuing operations was $552 million, or $1.00 per diluted share.
eBay
eBay
Forward Guidance
eBay provided guidance for Q4 2022, expecting revenue between $2.42 and $2.50 billion and diluted EPS from continuing operations between $0.76 and $0.82 (GAAP) and $1.03 and $1.09 (Non-GAAP). For the full year 2022, revenue is expected to be between $9.71 and $9.79 billion, and diluted EPS from continuing operations between $(2.74) and $(2.68) (GAAP) and $4.07 and $4.13 (Non-GAAP).
Positive Outlook
- Net Revenue between $2.42 - $2.50 billion for Q4 2022
- Organic FX-Neutral Y/Y Growth of (4)% - (1)% for Q4 2022
- Diluted GAAP EPS between $0.76 - $0.82 for Q4 2022
- Diluted Non-GAAP EPS between $1.03 - $1.09 for Q4 2022
- Cash dividend of $0.22 per share payable on December 16, 2022
Challenges Ahead
- Net Revenue between $9.71 - $9.79 billion for full year 2022
- Organic FX-Neutral Y/Y Growth of (4)% - (3)% for full year 2022
- Diluted GAAP EPS between $(2.74) - $(2.68) for full year 2022
- Diluted Non-GAAP EPS between $4.07 - $4.13 for full year 2022
- The estimated GAAP diluted EPS above does not assume any gains or losses on our equity investments.