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Sep 30, 2024
eBay Q3 2024 Earnings Report
eBay's Q3 2024 results reflected positive GMV growth and strong performance across key metrics.
Key Takeaways
eBay Inc. reported Q3 2024 financial results with revenue of $2.6 billion, up 3% year-over-year. The company's GAAP EPS was $1.29 and non-GAAP EPS was $1.19. GMV increased by 2% to $18.3 billion. eBay returned $881 million to stockholders through share repurchases and dividends.
Revenue reached $2.6 billion, marking a 3% increase on both as-reported and FX-Neutral bases.
Gross Merchandise Volume (GMV) amounted to $18.3 billion, reflecting a 2% rise on an as-reported basis and a 1% increase on an FX-Neutral basis.
GAAP net income from continuing operations stood at $636 million, translating to $1.29 per diluted share.
The company generated $755 million in operating cash flow and $646 million in free cash flow.
eBay
eBay
eBay Revenue by Geographic Location
Revenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
eBay is providing the following guidance for the fourth quarter and full year 2024.
Positive Outlook
- Revenue for Q4 2024 is expected to be in the range of $2.53 billion to $2.59 billion.
- Full year revenue for 2024 is projected to be between $10.23 billion and $10.29 billion.
- Diluted GAAP EPS for Q4 2024 is estimated to be $0.96 to $1.01.
- Diluted non-GAAP EPS for Q4 2024 is forecasted to be $1.17 to $1.22.
- Full year diluted non-GAAP EPS is expected to be $4.80 to $4.85.
Challenges Ahead
- FX-Neutral Y/Y Growth for Q4 2024 is expected to be (1)% - 1%.
- Diluted GAAP EPS estimates include approximately $70 million of gain upon the expiration of the Aurelia option but does not assume any gains or losses on our remaining equity investments.
- Estimated non-GAAP amounts for the three months ending December 31, 2024 reflect adjustments that exclude the estimated amortization of acquired intangible assets of approximately $10 million, estimated stock-based compensation expense and associated employer payroll tax expense of approximately $140-$150 million and estimated adjustment between our GAAP and non-GAAP tax rate of approximately $20-$30 million.
- FX-Neutral Y/Y Growth for full year 2024 is expected to be 2% - 2%.
- Estimated non-GAAP amounts above for the twelve months ending December 31, 2024 reflect adjustments that exclude the estimated amortization of acquired intangible assets of approximately $37 million, estimated stock-based compensation expense and associated employer payroll tax expense of approximately $597-$607 million and estimated adjustment between our GAAP and non-GAAP tax rate of approximately $109-$119 million.