I bought a used electric cargo bike on eBay for £3,300 but, when it arrived, I discovered a cut in the frame. I put the frame number into the national BikeRegister database, which confirmed it had been stolen.The seller did not reply when I contacted them, so I phoned the police and the bike was seized. I was given crime reference and property log numbers.As I had paid by bank transfer, I contacted my bank, First Direct, to try to get a refund. It asked for evidence that the bike had been seized, which I pr ...

Markets seem to have their mojo back to start the month of May. After suffering a downturn in April, equities are once again rallying on news of strong corporate earnings. Also, the indices have hopes that the U.S. Federal Reserve still plans to lower interest rates at some point this year. However, May is typically a precarious month for stocks and prone to volatility. The Wall Street saying “sell in May and go away” refers to the historical underperformance of equity markets during the six-month period fr ...

Financial Performance - Net revenues for Q1 2024 were $2,556 million, an increase of 1.8% compared to $2,510 million in Q1 2023[12] - Gross profit for Q1 2024 was $1,856 million, up from $1,810 million in Q1 2023, reflecting a gross margin improvement[12] - Operating income increased to $631 million in Q1 2024, compared to $558 million in Q1 2023, representing a growth of 13.1%[12] - Net income for Q1 2024 was $438 million, down from $567 million in Q1 2023, indicating a decrease of 22.8%[14] - Basic net income per share for continuing operations was $0.85 in Q1 2024, compared to $1.06 in Q1 2023, a decline of 19.8%[12] - Operating margin improved to 24.7% for Q1 2024, up from 22.2% in Q1 2023, reflecting enhanced operational efficiency[159] Cash Flow and Assets - Cash and cash equivalents increased to $2,130 million as of March 31, 2024, compared to $1,985 million at the end of 2023, a rise of 7.3%[9] - Net cash provided by operating activities decreased to $615 million from $841 million year-over-year, reflecting a decline of 26.8%[19] - Cash provided by continuing operating activities was $615 million for the three months ended March 31, 2024, down from $841 million in the same period in 2023[200][202] - Total current assets decreased to $10,406 million as of March 31, 2024, from $11,016 million at the end of 2023, a reduction of 5.5%[9] - Total cash flows from investing activities provided $250 million in Q1 2024, a decrease from $701 million in Q1 2023[19] Equity and Investments - The company reported a total stockholders' equity of $6,273 million as of March 31, 2024, down from $6,396 million at the end of 2023[9] - The equity investment in Adevinta decreased from $4,474 million to $4,240 million, reflecting a $234 million unrealized loss in Q1 2024[63] - The company reported net losses of $246 million on equity investments for the three months ended March 31, 2024, compared to net gains of $160 million for the same period in 2023[71] - The total gain (loss) on equity investments and warrant, net was $(97) million for the three months ended March 31, 2024, compared to a gain of $198 million in 2023, primarily driven by changes in fair value of equity investments[192] Liabilities and Debt - Total liabilities decreased slightly to $15,145 million as of March 31, 2024, from $15,224 million at the end of 2023[9] - As of March 31, 2024, eBay's total debt was $7.725 billion, slightly up from $7.723 billion on December 31, 2023[101] - The company had no commercial paper notes outstanding as of March 31, 2024, maintaining a borrowing capacity of $2 billion under its credit agreement[111] Expenses - Total operating expenses decreased by 2% to $1,225 million for the three months ended March 31, 2024, compared to $1,252 million in 2023[181] - Sales and marketing expenses increased by 6% to $541 million for the three months ended March 31, 2024, primarily due to a $38 million increase in advertising and marketing program costs[181][183] - General and administrative expenses decreased by 20% to $238 million for the three months ended March 31, 2024, mainly due to a $51 million decrease in restructuring costs[181][188] Dividends and Stock Repurchase - The company declared dividends of $0.27 per share in Q1 2024, up from $0.25 per share in Q1 2023[16] - The stock repurchase program was authorized for an additional $2.0 billion in February 2024, totaling $6.0 billion since 2022[137] - The Company paid a total of $139 million in cash dividends during the three months ended March 31, 2024[138] Legal and Regulatory Matters - The Company accrued for probable losses of $64 million as of March 31, 2024, related to ongoing legal and regulatory proceedings[131] - The Company paid $59 million as part of a settlement agreement with the DEA, resolving allegations of noncompliance under the Controlled Substances Act[128] - Legal and regulatory proceedings are subject to significant uncertainties, and unfavorable outcomes could materially impact the Company's financial condition[125] Market Performance - U.S. net revenues increased to $1,302 million in Q1 2024 from $1,261 million in Q1 2023, representing a 3.3% growth[50] - The U.S. market contributed $1,302 million to net revenues, a 3% increase from $1,261 million in Q1 2023, while international revenues remained flat at $1,254 million[169] - The company experienced reduced traffic in most markets due to geopolitical events and inflationary pressures, which are expected to continue affecting consumer spending in 2024[156][176]

eBay Inc. (EBAY) reported first-quarter 2024 non-GAAP earnings of $1.25 per share, which beat the Zacks Consensus Estimate by 4.2%. The bottom line was up 13% year over year.Net revenues of $2.56 billion surpassed the Zacks Consensus Estimate of $2.53 billion. The figure increased 2% from the year-ago quarter on a reported and FX-neutral basis.Strengthening momentum across advertising offerings of EBAY was a tailwind.eBay’s first-party advertising products generated revenues of $370 million, up 30% on a rep ...

EBay’s gross merchandise volume (GMV) eked out slight gains in the most recent quarter, but the tally of 131 million active buyers in the quarter was unchanged.And growth may be a longer term story – a year-end story, in fact, amid uneven consumer spending. Investors sent the shares lower in after-hours trading on Wednesday by about 5%.CEO Jamie Iannone said on the conference call with analysts, “We remain on track for GMV growth turn positive by Q3 or Q4 of this year.”Motor parts and accessories was once a ...

eBay Inc. (NASDAQ:EBAY) Q1 2024 Earnings Conference Call May 1, 2024 5:00 PM ET Company Participants John Egbert - VP of IR Jamie Iannone - CEO Steve Priest - CFO Conference Call Participants Nathan Feather - Morgan Stanley Colin Sebastian - Baird Eric Sheridan - Goldman Sachs Tom Champion - Piper Sandler Bryan Smilek - JPMorgan John Blackledge - TD Cowen Richard Kramer - Arete Research Michael Morton - MoffettNathanson Operator Good afternoon, and welcome to eBay's First Quarter 2024 Earnings Conference Ca ...

eBay (EBAY) reported $2.56 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 1.8%. EPS of $1.25 for the same period compares to $1.11 a year ago.The reported revenue represents a surprise of +0.99% over the Zacks Consensus Estimate of $2.53 billion. With the consensus EPS estimate being $1.20, the EPS surprise was +4.17%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their nex ...

eBay Inc (NASDAQ: EBAY) is in the red in extended hours today even though it came in ahead of Street estimates for its fiscal Q1.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.eBay stock down on muted guidanceCopy link to sectionThe stock is taking a hit primarily because the management failed to impress with its guidance. $EBAY now forecasts its revenue to fall between $2.49 billion and $2.54 billion on up to $1.15 of per-share earnings. Analysts, i ...

eBay Inc. Reports First Quarter 2024 Results San Jose, California, May 1, 2024 – eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today reported financial results for its first quarter ended March 31, 2024. "eBay's Q1 results marked a strong start to 2024 as we continue to make progress toward our goal of sustainable GMV growth," said Jamie Iannone, Chief Executive Officer at eBay. "We believe our accelerating pace of innovation is fundamental ...

The upcoming report from eBay (EBAY) is expected to reveal quarterly earnings of $1.20 per share, indicating an increase of 8.1% compared to the year-ago period. Analysts forecast revenues of $2.53 billion, representing an increase of 0.8% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.9% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ahead of a company's ea ...