- Prachi Singh |
eBay Inc reported revenues of 2.6 billion dollars, up 12 percent on an as-reported basis and 7 percent on FX neutral basis for the quarter ended March 31, 2018, which the company said were driven by GMV of 23.6 billion dollars, up 13 percent on as-reported and 7 percent on an FX-neutral basis. During the quarter, eBay delivered GAAP net income from continuing operations of 407 million dollars or 0.40 dollar per diluted share and Non-GAAP net income from continuing operations of 548 million dollars or 0.53 dollar per diluted share.
“In Q1, we drove good growth and made further progress with our multi-year effort to transform our customer experience and sharpen the eBay brand,” said Devin Wenig, President and CEO of eBay Inc in a media statement.
Review of eBay’s Q1 results
In the first quarter, eBay grew active buyers by 4 percent across its platforms, for a total of 171 million global active buyers. Underlying total eBay Inc. performance, the marketplace platforms delivered 2.1 billion dollars of revenue and 22.5 billion dollars of GMV. Marketplace revenue growth was 11 percent on an as-reported basis and 7 percent on FX-neutral basis and GMV was up 13 percent on an as-reported basis and 7 percent on an FX-neutral basis, aided by continued expansion of new user experiences.
StubHub posted revenue of 232 million dollars, up 9 percent on both an as-reported basis and FX-neutral basis, and GMV of 1 billion dollars, up 14 percent on an as-reported basis and 13 percent on an FX-neutral basis, driven by a robust sports landscape, including a record Super Bowl, and strong international growth. Classifieds platforms delivered another quarter of double-digit growth with revenue of 246 million dollars, up 24 percent on as-reported basis and 10 percent on an FX-Neutral basis, driven primarily by strength in Germany.
During the quarter, eBay also appointed Jan Pedersen, a proven leader in AI, as Chief Scientist, artificial intelligence. During the quarter, the company announced that it will acquire Giosis’ Japan business, including the Qoo10.jp platform, which is expected to help expand eBay’s footprint in Japan.
eBay expects Q2 revenue growth between 6 to 8 percent
For the second quarter of 2018, the company expects net revenue between 2.64 billion dollars and 2.68 billion dollars, representing FX neutral growth of 6 percent – 8 percent, with GAAP earnings per diluted share from continuing operations in the range of 0.33 dollar - 0.37 dollar and non-GAAP earnings per diluted share from continuing operations in the range of 0.50 dollar - 0.52 dollar.
For the full year, the company expects net revenue between 10.9 billion dollars and 11.1 billion dollars, representing FX-neutral growth of 7 percent – 9 percent, with GAAP earnings per diluted share from continuing operations in the range of 1.65 dollars - 1.75 dollars and non-GAAP earnings per diluted share from continuing operations in the range of 2.25 dollars - 2.30 dollars.
Picture:eBay press room