eBay Inc. reports 5% YoY growth in Q3

eBay has reported its third quarter results, with revenue up 5% year on year globally, and merchandise sales on their platform up by 2%.

eBay Inc. Reports Third Quarter 2023 Results

• Revenue of $2.5 billion, up 5% year on year on both as-reported basis and FX-Neutral basis
• Gross Merchandise Volume of $18.0 billion, up 2% on an as-reported basis and roughly flat on an FX-Neutral basis
• GAAP and Non-GAAP earnings per diluted share of $2.46 and $1.03, respectively, on a continuing operations basis
• GAAP and Non-GAAP operating margin of 18.2% and 26.4%, respectively
• Returned $783 million to shareholders in Q3, including $651 million of share repurchases and $132 million paid in cash dividends
• eBay’s first-party advertising products, primarily driven by Promoted Listings, delivered $345 million of revenue in the third quarter, up 39% on an as-reported basis and up 36% on an FX-Neutral basis.
• The company’s total advertising offerings generated approximately $366 million in revenue in the third quarter, representing roughly 2.0% of GMV.

Jamie Iannone, Chief Executive Officer at eBay: “We delivered another quarter of solid results, and have accelerated the pace of innovation across eBay. The strategic investments in our marketplace and the team’s strong execution are driving increased customer satisfaction, especially in focus categories. In the face of macroeconomic uncertainty, we continue to make meaningful progress against our ambitious vision to reinvent the future of ecommerce for enthusiasts.”

READ EBAY’S STATEMENT