Online retailer eBay has agreed to pay a $3m (£2.4m) fine to resolve criminal charges over employees who harassed a couple by sending live spiders, cockroaches to their home.David and Ina Steiner also had a funeral wreath, a bloody pig mask, and a book about surviving the loss of a spouse, show up at their door, while their home address was posted online with announcements inviting strangers to yard sales and parties. Mr and Mrs Steiner, who live in Massachusetts, produced an online newsletter called Ecomme ...

Online marketplace eBay has been ordered to cough up $3 million to resolve criminal charges related to a harassment campaign by employees who sent live spiders, cockroaches and other disturbing items to the home of a Massachusetts couple, according to court papers filed Thursday.The Justice Department charged eBay with four counts of corporate stalking — two through interstate travel and two through electronic communications services — as well as witness tampering and obstruction of justice, the federal ag ...

SAN JOSE, Calif., Jan. 11, 2024 /PRNewswire/ -- eBay Inc. (NASDAQ: EBAY) today stated that it has entered into a deferred prosecution agreement with the U.S. Attorney's Office for the District of Massachusetts with respect to actions taken in 2019 by former eBay employees against Ina and David Steiner. As set forth in the agreement, eBay takes responsibility for the misconduct of its former employees. "The company's conduct in 2019 was wrong and reprehensible," said Jamie Iannone, Chief Executive Officer at ...

The online retailer eBay will pay a $3m fine to resolve criminal charges over a harassment campaign waged by employees who sent live spiders, cockroaches and other disturbing items to the home of a Massachusetts couple, according to court papers filed on Thursday.The justice department charged eBay with stalking, witness tampering and obstruction of justice. The employees already were prosecuted in the extensive scheme to intimidate David and Ina Steiner more than three years ago. The couple produced an onl ...

Forget Picasso paintings and Mickey Mantle rookie cards. Could the hottest new collectible be a Valentine’s Day-themed cup sold exclusively at Target TGT, -1.78% ?The “Galentine’s Collection” pink and red cups, made by Stanley, are priced from $20 to $45 at Target, depending on the size. But they’re now going for as much as $200 on eBay EBAY, -0.33%. “Hard to find…Will ship with extra care,” said one eBay seller, who was asking $190 for a pair. The frenzy is such that shoppers have been standing in line out ...

Fool.com contributor Parkev Tatevosian discusses the characteristics that make this one of his favorite dividend stocks to buy for 2024. *Stock prices used were the afternoon prices of Dec. 24, 2023. The video was published on Dec. 26, 2023. ...

eBay Inc. (NASDAQ:EBAY) Q3 2023 Earnings Conference Call November 7, 2023 5:00 PM ET Company Participants Jamie Iannone - Chief Executive Officer Steve Priest - Chief Financial Officer John Egbert - Vice President of Investor Relations Conference Call Participants Colin Sebastian - Baird Ross Sandler - Barclays Nikhil Devnani - Bernstein Thomas Champion - Piper Sandler Lee Horowitz - Deutsche Bank Michael Morton - MoffettNathanson Eric Sheridan - Goldman Sachs Deepak Mathivanan - Wolfe Research Operator Lad ...

Financial Performance - For the three months ended September 30, 2023, net revenues increased to $2,500 million, up from $2,380 million in the same period of 2022, representing a growth of 5.04%[16] - Gross profit for the nine months ended September 30, 2023, was $5,427 million, compared to $5,286 million for the same period in 2022, reflecting an increase of 2.67%[16] - The company reported a net income of $1,305 million for the three months ended September 30, 2023, compared to a net loss of $69 million in the same period of 2022[18] - Basic income per share from continuing operations for the three months ended September 30, 2023, was $2.47, a significant improvement from a loss of $0.13 per share in the same period of 2022[16] - eBay reported a net income of $2,043 million for the nine months ended September 30, 2023, compared to a net loss of $1,941 million in the same period of 2022[22] - Net income for Q3 2023 was $1,305 million, compared to a net loss of $69 million in Q3 2022, marking a significant turnaround[47] - Total net revenues for Q3 2023 reached $2,500 million, a 5% increase from $2,380 million in Q3 2022[57] - U.S. revenues for Q3 2023 were $1,259 million, up from $1,187 million in Q3 2022, reflecting a growth of 6%[57] Assets and Liabilities - Total assets as of September 30, 2023, amounted to $21,184 million, an increase from $20,850 million as of December 31, 2022[13] - Total liabilities decreased to $15,285 million as of September 30, 2023, down from $15,697 million as of December 31, 2022[13] - The company’s cash and cash equivalents increased to $2,550 million as of September 30, 2023, compared to $2,154 million as of December 31, 2022[13] - eBay's total stockholders' equity increased to $5,899 million as of September 30, 2023, compared to $4,853 million a year earlier[20] - As of September 30, 2023, total debt amounted to $7.723 billion, a decrease from $8.871 billion as of December 31, 2022, reflecting a reduction of approximately 13%[122] Cash Flow and Investments - The company generated net cash provided by continuing operating activities of $2,308 million for the nine months ended September 30, 2023, up from $1,941 million in the prior year[22] - Cash, cash equivalents, and restricted cash at the end of the period stood at $3,009 million, an increase from $2,106 million at the end of September 2022[23] - eBay's cash flows from investing activities yielded a net cash inflow of $520 million for the nine months ended September 30, 2023, compared to $3,755 million in the same period of 2022[22] - The company repurchased $1,160 million of common stock during the nine months ended September 30, 2023, compared to $3,031 million in the same period of 2022[20] - Cash flow from continuing operating activities was $862 million during the three months ended September 30, 2023, compared to $735 million in the same period in 2022[187] Expenses and Costs - Operating expenses for the three months ended September 30, 2023, totaled $1,340 million, up from $1,165 million in the same period of 2022, indicating an increase of 15.03%[16] - The effective interest expense for senior notes was approximately $65 million for the three months ended September 30, 2023, compared to $54 million for the same period in 2022, representing an increase of about 20%[131] - Total stock-based compensation expense for the three months ended September 30, 2023, was $144 million, an increase from $118 million in the same period of 2022[168] - Restructuring charges amounted to $42 million, primarily related to workforce reduction and exit costs[179] Equity Investments - The company reported a gain on equity investments of $1,212 million for the three months ended September 30, 2023, compared to a loss of $593 million in the same period of 2022[16] - The total estimated fair value of investments classified as available-for-sale debt securities and restricted cash is $2,886 million as of September 30, 2023[65] - The total equity investments increased from $3,377 million as of December 31, 2022, to $4,633 million as of September 30, 2023[66] - The equity investment in Adevinta is valued at $4,023 million as of September 30, 2023, reflecting an unrealized gain of $1,367 million for the quarter[71] - For the three months ended September 30, 2023, net gains on equity investments were $1,321 million, a significant recovery from a loss of $566 million in the same period of 2022[85] Legal and Regulatory Matters - The company is under examination by tax authorities for the 2010 to 2021 tax years, with potential adjustments to gross unrecognized tax benefits being reasonably possible in the next 12 months[171] - Legal and regulatory proceedings are inherently unpredictable, and unfavorable outcomes could materially impact the company's operating results or financial condition[149] - The company is responding to inquiries from the U.S. Department of Justice regarding potential liability for products sold on its Marketplace platforms, with a civil complaint filed against it alleging violations of environmental laws[154] - The company expects to incur significant costs related to ongoing legal disputes and regulatory inquiries, which could divert operational resources and impact business practices[152] Market and Operational Insights - The company experienced reduced traffic due to geopolitical events, inflationary pressure, and lower consumer confidence, impacting discretionary spending[184] - The take rate for Q3 2023 was 13.90%, up from 13.43% in Q3 2022, indicating improved monetization[199] - Gross Merchandise Volume (GMV) for Q3 2023 was $17,991 million, a 2% increase from $17,715 million in Q3 2022[199] - Operating margin decreased to 18.2% for the three months ended September 30, 2023, down from 23.9% in the same period in 2022[186]

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