eBay (EBAY) Q1 2024 Earnings Review: Revenue Surpasses Expectations
Thursday, 2 May 2024, 17:47
eBay (EBAY) Q1 2024 Earnings Review
Shares of eBay Inc. (NASDAQ: EBAY) were down over 2% on Thursday. The company reported its earnings results for the first quarter of 2024 a day ago, with revenue and earnings growing on a year-over-year basis and surpassing expectations.
Quarterly Numbers
- Revenues increased 2% YoY on both reported and FX-neutral basis
- Adjusted EPS rose 13% to $1.25, exceeding expectations
- US GMV remained flat with growth in Motors Parts & Accessories
- International GMV faced challenges in the UK and Germany
Focus Categories
- Key categories like P&A, collectibles, and luxury goods drove growth
- Pre-owned goods accounted for 40% of total GMV in Q1
- Plans to focus on pre-owned fashion for future growth
Advertising
- Total advertising revenue grew 20% to $384 million
- First-party ads revenue increased by 28%
- Expectations for advertising growth in 2024
Outlook
eBay expects revenues between $2.49-2.54 billion in Q2 2024 with emphasis on enhancing advertising revenue and focusing on pre-owned goods.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.