For the second quarter, eBay posted sales and earnings gains with help from higher advertising revenues against a small slide in gross merchandise volume.
In the quarter, eBay topped a Marketbeat-published analyst average estimate on adjusted diluted earnings, which was for 99 cents, and revenues, which was for $2.51 billion.
The company posted revenues of $2.54 billion versus $2.42 billion in the year-earlier quarter, the company reported. Income from operations was $518 million versus $525 million in the year-prior period while adjusted operating income was $684 million versus $694 million.
Gross merchandise volume came in at $18.21 billion, down 2% on an as-reported basis and 1% on an foreign exchange rate neutral basis in the quarter year over year.
The company noted its first-party advertising products, primarily driven by Promoted Listings, delivered revenue of $341 million in the quarter, up 47% on an as-reported basis and 49% on an foreign exchange rate neutral basis year over year. Total eBay advertising offerings generated more than $367 million in revenue in the period, representing about 2% of GMV.
In addition, eBay launched an iOS Live Commerce Streaming function, allowing sellers to stream live commerce events directly through the eBay app. The company also introduced Extended Auctions on eBay Live, sellers’ most highly requested live commerce feature, which extends an auction’s time by five seconds if a new bid is received in an auction’s last five seconds.
“In Q2, we exceeded expectations on all key metrics while investing in sustainable growth,” said Jamie Iannone, eBay CEO. “Three years ago, I set our ambition of becoming the best global marketplace to buy and sell through a tech-led reimagination. Now, we’re raising the bar for innovation and have evolved our vision to reinvent the future of e-commerce for enthusiasts, only at eBay. This work is already producing compelling results, and we are confident the sharper focus will deliver long-term returns to our shareholders.”
