eBay’s second quarter revenue was 2.6 billion dollars, up 1 percent on a reported basis and 2 percent on a FX neutral basis.
Gross merchandise volume (GMV) for the quarter was 18.4 billion dollars, up 1 percent on an as-reported and FX-neutral basis.
GAAP net income from continuing operations was 226 million dollars or 45 cents per diluted share and non-GAAP net income from continuing operations was 602 million dollars or 1.18 dollars per diluted share.
“The continued momentum in focus categories contributed to our increase in GMV, while new AI capabilities are driving innovation across the platform and transforming the experience for eBay customers around the world,” said Jamie Iannone, chief executive officer at eBay.
The company’s GAAP and non-GAAP operating margin was 21.3 percent and 27.9 percent, respectively.
eBay completed the previously announced sale of Adevinta shares in exchange for 2.4 billion dollars in cash and shares of a newly privatised entity, Aurelia, which are valued at 1.9 billion dollars at the closing of the transactions.
The company returned 1.1 billion dollars to stockholders, including 1 billion dollars of share repurchases and 135 million dollars paid in cash dividends. eBay’s board of directors has declared a cash dividend of 27 cents per share payable on September 13, 2024 to stockholders of record as of August 30, 2024.