eBay gross merchandise volume down 18% YoY in Q2

eBay has reported its Q2 financials to 30th June, with revenue of $2.4bn, down 9%, with the volume of stock sold through the platform (Gross merchandise volume) of $18.5bn, down 18%.

Second Quarter Financial Highlights

• Revenue was $2.4 billion, down 9% on an as-reported basis and down 6% on a foreign exchange (FX) neutral basis.
• Gross merchandise volume (GMV) was $18.5 billion, down 18% on an as-reported basis and down 14% on an FXNeutral basis.
• GAAP net loss from continuing operations was $536 million, or $(0.96) per diluted share primarily driven by the change in fair value of our equity investments.
• Non-GAAP net income from continuing operations was $554 million, or $0.99 per diluted share.
• GAAP and Non-GAAP operating margin of 21.7% and 28.7%, respectively.
• Generated $577 million of operating cash flow and $466 million of free cash flow from continuing operations.
• Sold a portion of our shares in Kakao Bank for $242 million and a portion of our shares in Adyen for $129 million.
• Returned over $1.4 billion to shareholders, including approximately $1.3 billion of share repurchases and $121 million paid in cash dividends.