Workflow
eBay(EBAY)
icon
Search documents
从“创意集市”到“关税战场”:Etsy手工艺人被迫卷入贸易战
Sou Hu Cai Jing· 2025-08-01 03:23
Core Points - The U.S. government has announced the cancellation of the "de minimis" tax exemption for imported goods valued under $800, effective August 29, 2023, nearly two years earlier than previously planned [1][2]. Group 1: Impact on E-commerce Platforms - C2C e-commerce platforms like eBay and Etsy will face significant challenges as international transactions for second-hand, vintage, and handmade goods may incur high tariffs, leading to increased consumer costs and reduced purchasing choices [2][3]. - Sellers on platforms like Etsy anticipate a 30%-50% decrease in order volume due to the new tariffs, which will make their products less competitive [3][5]. - eBay has stated that the policy change will harm consumer interests and reduce market diversity, while Etsy warns that it may force small sellers off the platform [3][4]. Group 2: Consumer Reactions and Concerns - Consumers are expected to face higher costs, with some items potentially doubling in price due to tariffs, taxes, and handling fees, which could lead to a significant reduction in purchases of international goods [2][3]. - Consumer advocacy groups have expressed concerns that the policy will deprive Americans of access to unique, low-cost products and increase the overall cost of living [3][6]. Group 3: Industry and Economic Implications - The International Secondhand Trade Association (IBTA) has warned that the policy could destroy a multi-billion dollar industry and lead to significant job losses [5]. - Delivery companies like FedEx and UPS have cautioned that the new tariff declaration process may cause package backlogs and delays in delivery times [6]. - The U.S. Trade Representative's Office has reiterated that the policy change will not be altered, emphasizing a shift away from being a "dumping ground" for cheap goods [6].
eBay: Durable Growth
Seeking Alpha· 2025-07-31 22:41
Company Overview - eBay, Inc. has reached all-time highs in stock price due to improved earnings performance [1] - The company is not projecting significant growth despite a 20% increase in stock value [1] Growth Strategies - eBay is leveraging artificial intelligence (AI) and live services as key drivers for future growth [1]
X @Investopedia
Investopedia· 2025-07-31 22:30
Financial Performance - eBay's quarterly revenue and profit exceeded expectations [1] - eBay issued an optimistic outlook [1] Market Trends - Shares of eBay soared after the report [1]
eBay(EBAY) - 2025 Q2 - Quarterly Report
2025-07-31 20:04
PART I: FINANCIAL INFORMATION [Item 1: Financial Statements (unaudited)](index=6&type=section&id=Item%201%3A%20Financial%20Statements%20(unaudited)) This section presents the company's unaudited condensed consolidated financial statements for Q2 2025 Condensed Consolidated Statement of Income Highlights (Three Months Ended June 30) | Financial Metric | 2025 (in millions) | 2024 (in millions) | Change | | :--- | :--- | :--- | :--- | | Net Revenues | $2,730 | $2,572 | +6.1% | | Gross Profit | $1,954 | $1,837 | +6.4% | | Income from Operations | $484 | $549 | -11.8% | | Net Income | $368 | $224 | +64.3% | | Diluted EPS | $0.79 | $0.45 | +75.6% | Condensed Consolidated Balance Sheet Highlights | Balance Sheet Item | June 30, 2025 (in millions) | Dec 31, 2024 (in millions) | | :--- | :--- | :--- | | Total Current Assets | $5,919 | $7,567 | | Total Assets | $17,961 | $19,365 | | Total Current Liabilities | $5,940 | $6,098 | | Total Liabilities | $13,212 | $14,207 | | Total Stockholders' Equity | $4,749 | $5,158 | [Note 1 — The Company and Summary of Significant Accounting Policies](index=13&type=section&id=Note%201%20%E2%80%94%20The%20Company%20and%20Summary%20of%20Significant%20Accounting%20Policies) This note outlines the company's business, basis of presentation, and significant accounting policies - eBay is a global commerce leader with marketplace platforms that empower millions of buyers and sellers in over 190 markets[27](index=27&type=chunk) - Effective January 1, 2024, the company changed its estimate of the **useful lives for servers and networking equipment from three to four years**, citing improvements in hardware, software, and data center designs[30](index=30&type=chunk) - The company adopted new accounting standards (ASU 2023-07 for Segment Reporting and ASU 2023-08 for Crypto Assets) with **no material impact** on its financial statements[37](index=37&type=chunk)[38](index=38&type=chunk) [Note 2 — Net Income Per Share](index=15&type=section&id=Note%202%20%E2%80%94%20Net%20Income%20Per%20Share) This note provides a detailed computation of basic and diluted net income per share for Q2 2025 and 2024 Net Income Per Share Calculation (Three Months Ended June 30) | Per Share Data | 2025 | 2024 | | :--- | :--- | :--- | | **Basic** | | | | Continuing Operations | $0.80 | $0.45 | | Net Income | $0.80 | $0.45 | | **Diluted** | | | | Continuing Operations | $0.79 | $0.45 | | Net Income | $0.79 | $0.45 | | **Weighted-Average Shares (in millions)** | | | | Basic | 461 | 503 | | Diluted | 470 | 507 | [Note 3 — Goodwill and Intangible Assets](index=16&type=section&id=Note%203%20%E2%80%94%20Goodwill%20and%20Intangible%20Assets) This note details changes in goodwill and intangible assets, including an increase from the Caramel acquisition - **Goodwill increased by $117 million to $4.386 billion** in the first six months of 2025, mainly from the acquisition of Caramel ($72 million) and foreign currency adjustments ($45 million)[45](index=45&type=chunk) - Expected future amortization of intangible assets is projected to be **$25 million for the remainder of 2025** and **$42 million for 2026**[47](index=47&type=chunk) Intangible Assets (Net Carrying Amount, in millions) | Asset Type | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Customer lists and user base | $43 | $46 | | Marketing related | $36 | $38 | | Developed technologies | $51 | $34 | | Total | $131 | $119 | [Note 4 — Segments](index=17&type=section&id=Note%204%20%E2%80%94%20Segments) This note clarifies that eBay operates as a single reportable segment and breaks down revenue by activity and geography - The company operates as **one reportable segment**, and performance is assessed by the CEO based on consolidated net income[49](index=49&type=chunk) Net Revenues by Activity (Six Months Ended June 30, in millions) | Revenue Type | 2025 | 2024 | | :--- | :--- | :--- | | Marketplace revenues | $4,391 | $4,346 | | Advertising revenues | $924 | $782 | | **Total net revenues** | **$5,315** | **$5,128** | Net Revenues by Geography (Six Months Ended June 30, in millions) | Geography | 2025 | 2024 | | :--- | :--- | :--- | | United States | $2,743 | $2,595 | | United Kingdom | $712 | $782 | | China | $611 | $566 | | Germany | $483 | $489 | | Rest of world | $766 | $696 | | **Total net revenues** | **$5,315** | **$5,128** | [Note 5 — Investments](index=18&type=section&id=Note%205%20%E2%80%94%20Investments) This note details the company's investment portfolio, highlighting a $225 million cash distribution from Aurelia - In Q2 2025, eBay received a **$225 million cash distribution** from its equity investment in Aurelia, which was treated as a return of capital[66](index=66&type=chunk) - The carrying value of the investment in Aurelia was **$653 million** as of June 30, 2025, down from $867 million at year-end 2024, primarily due to the cash distribution[67](index=67&type=chunk) Fair Value of Investments (in millions) | Investment Type | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Short-term investments | $1,706 | $3,457 | | Long-term investments (debt) | $1,608 | $1,309 | | Total equity investments | $912 | $1,130 | [Note 6 — Derivative Instruments](index=22&type=section&id=Note%206%20%E2%80%94%20Derivative%20Instruments) This note explains the use of derivatives to mitigate risk and notes the expiration of the Adyen warrant - The company uses foreign currency and interest rate contracts to hedge against volatility in cash flows from forecasted revenues, expenses, and intercompany balances[78](index=78&type=chunk)[79](index=79&type=chunk) - The warrant agreement with Adyen N.V. **expired on January 31, 2025**[85](index=85&type=chunk) Notional Amounts of Outstanding Derivatives (in millions) | Derivative Type | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Foreign exchange contracts (cash flow hedges) | $1,859 | $1,329 | | Foreign exchange contracts (not designated) | $1,847 | $1,667 | | Interest rate contracts (cash flow hedges) | $200 | $150 | | **Total** | **$3,906** | **$3,146** | [Note 7 — Fair Value Measurement of Assets and Liabilities](index=26&type=section&id=Note%207%20%E2%80%94%20Fair%20Value%20Measurement%20of%20Assets%20and%20Liabilities) This note details the three-level hierarchy used for fair value measurement of financial assets and liabilities - The Adyen warrant, previously a Level 3 derivative, had its **balance reduced to zero** by December 31, 2024, following exercise and expiration[104](index=104&type=chunk)[105](index=105&type=chunk) Financial Assets Measured at Fair Value (June 30, 2025, in millions) | Asset Category | Total Fair Value | Level 1 | Level 2 | Level 3 | | :--- | :--- | :--- | :--- | :--- | | Cash, cash equivalents & restricted cash | $3,231 | $3,231 | $— | $— | | Derivatives | $69 | $— | $54 | $15 | | Short-term investments | $1,706 | $— | $1,706 | $— | | Long-term investments | $1,608 | $— | $1,608 | $— | | **Total Financial Assets** | **$6,614** | **$3,231** | **$3,368** | **$15** | [Note 8 — Supplemental Consolidated Financial Information](index=29&type=section&id=Note%208%20%E2%80%94%20Supplemental%20Consolidated%20Financial%20Information) This note provides additional detail on specific financial statement line items like accrued expenses - For the six months ended June 30, 2024, the 'Loss on equity investments and warrant, net' of **$319 million** was driven by unrealized losses on Adevinta shares, changes in the fair value of the Adyen warrant, and the Aurelia option[117](index=117&type=chunk) Accrued Expenses and Other Current Liabilities (June 30, 2025, in millions) | Expense Type | Amount | | :--- | :--- | | Accrued indirect tax expense | $495 | | Accrued compensation and related benefits | $438 | | Accrued marketing expenses | $222 | | Other current tax liabilities | $191 | | **Total** | **$2,288** | [Note 9 — Debt](index=31&type=section&id=Note%209%20%E2%80%94%20Debt) This note outlines the company's $6.75 billion debt structure and recent repayment of $800 million in senior notes - In March 2025, eBay **repaid the $800 million principal amount** of its 1.900% senior notes due 2025 upon maturity[121](index=121&type=chunk) - The company has a **$2.0 billion revolving credit facility** maturing in January 2029, which was undrawn as of June 30, 2025[127](index=127&type=chunk)[128](index=128&type=chunk) Total Debt Summary (in millions) | Debt Category | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Long-Term Debt | $5,002 | $5,752 | | Short-Term Debt | $1,746 | $1,673 | | **Total Debt** | **$6,748** | **$7,425** | [Note 10 — Commitments and Contingencies](index=33&type=section&id=Note%2010%20%E2%80%94%20Commitments%20and%20Contingencies) This note discusses legal proceedings, including a deferred prosecution agreement and a dismissed DOJ complaint - A civil complaint filed by the DOJ regarding alleged violations of environmental acts was **dismissed by the District Court**, and the government's subsequent appeal was voluntarily dismissed in April 2025[136](index=136&type=chunk) - The company is under a **three-year deferred prosecution agreement (DPA)** related to a 2019 stalking incident, which requires an independent compliance monitor[135](index=135&type=chunk) - Accrued amounts for legal and regulatory proceedings were **not material** as of June 30, 2025, and the company believes reasonably possible losses in excess of accruals are also not material[138](index=138&type=chunk) [Note 11 — Stockholders' Equity](index=35&type=section&id=Note%2011%20%E2%80%94%20Stockholders'%20Equity) This note covers changes in stockholders' equity, focusing on stock repurchases and dividend payments - During the six months ended June 30, 2025, the company paid **$268 million in cash dividends**[147](index=147&type=chunk) - In July 2025, the Board declared a cash dividend of **$0.29 per share**, payable in September 2025[147](index=147&type=chunk) Stock Repurchase Activity (Six Months Ended June 30, 2025) | Metric | Value | | :--- | :--- | | Shares Repurchased (millions) | 18 | | Average Price per Share | $68.64 | | Value of Shares Repurchased (millions) | $1,250 | | Remaining Authorization (millions) | $2,048 | [Note 12 — Employee Benefit Plans](index=36&type=section&id=Note%2012%20%E2%80%94%20Employee%20Benefit%20Plans) This note details stock-based compensation expense and outstanding restricted stock units (RSUs) - As of June 30, 2025, there were **24 million restricted stock units (RSUs) outstanding**[149](index=149&type=chunk) Stock-Based Compensation Expense (in millions) | Period | Expense | | :--- | :--- | | Three Months Ended June 30, 2025 | $165 | | Six Months Ended June 30, 2025 | $301 | | Three Months Ended June 30, 2024 | $154 | | Six Months Ended June 30, 2024 | $300 | [Note 13 — Income Taxes](index=37&type=section&id=Note%2013%20%E2%80%94%20Income%20Taxes) This note discusses ongoing tax examinations and the expected reduction of unrecognized tax benefits - The company is under examination by tax authorities in the U.S. and other material jurisdictions for **tax years from 2010 to 2023**[152](index=152&type=chunk) - eBay expects the gross amount of unrecognized tax benefits to **decrease by at least $210 million** within the next 12 months[153](index=153&type=chunk) - New U.S. tax legislation, the 'One Big Beautiful Bill Act,' was enacted on July 4, 2025, and the company is **evaluating its potential impact** on its effective tax rate and deferred tax liabilities[155](index=155&type=chunk) [Note 14 — Accumulated Other Comprehensive Income](index=38&type=section&id=Note%2014%20%E2%80%94%20Accumulated%20Other%20Comprehensive%20Income) This note provides a detailed reconciliation of the changes in Accumulated Other Comprehensive Income (AOCI) Changes in AOCI (Six Months Ended June 30, 2025, in millions) | AOCI Component | Beginning Balance (Dec 31, 2024) | Net Change | Ending Balance (June 30, 2025) | | :--- | :--- | :--- | :--- | | Unrealized (Losses) on Derivatives | $75 | $(114) | $(39) | | Unrealized Gains on Investments | $(7) | $18 | $11 | | Foreign Currency Translation | $130 | $64 | $194 | | **Total AOCI** | **$206** | **$(11)** | **$195** | [Note 15 — Restructuring](index=40&type=section&id=Note%2015%20%E2%80%94%20Restructuring) This note details the completion of a 2023 workforce reduction plan and the remaining accrued liability - A workforce reduction plan from Q4 2023 was **substantially completed in Q2 2024**[161](index=161&type=chunk) - As of June 30, 2025, the remaining accrued restructuring liability was **$5 million**, down from $10 million at the beginning of the year[161](index=161&type=chunk) [Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations](index=41&type=section&id=Item%202%3A%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on financial performance, revenue trends, and capital resources [Overview](index=41&type=section&id=Overview) This subsection provides a high-level overview of business performance, including GMV growth and macroeconomic pressures - **GMV grew in H1 2025** due to strategy execution in Focus Categories, but was partially offset by pressures from geopolitical events, inflation, and interest rates[167](index=167&type=chunk) - For Q2 2025, **net revenues increased 6% to $2.73 billion**, while operating margin decreased to 17.7% from 21.3% YoY, primarily due to higher non-recurring G&A expenses[169](index=169&type=chunk)[170](index=170&type=chunk) - In Q2 2025, the company **repurchased $625 million of common stock**, paid $134 million in dividends, and received a $225 million cash distribution from its Aurelia investment[171](index=171&type=chunk) [Results of Operations](index=43&type=section&id=Results%20of%20Operations) This subsection analyzes operational results, including revenue growth drivers and increased operating expenses - GMV growth was driven by strategic initiatives, improved consumer demand, and strong performance in **Focus Categories like Collectibles, Motors Parts & Accessories, and Luxury goods**[186](index=186&type=chunk) - **General and administrative expenses increased 53%** in Q2 2025 YoY, primarily due to a $57 million increase related to legal matters and a $55 million increase for senior leader transitions and restructuring[194](index=194&type=chunk)[202](index=202&type=chunk) - The **effective tax rate for Q2 2025 was 22.5%**, down from 31.1% in Q2 2024, mainly due to higher excess tax benefits on stock-based compensation[209](index=209&type=chunk) Key Operating Metrics (Three Months Ended June 30) | Metric | 2025 | 2024 | % Change (As Reported) | % Change (FX-Neutral) | | :--- | :--- | :--- | :--- | :--- | | Net Revenues (in millions) | $2,730 | $2,572 | 6% | 4% | | GMV (in millions) | $19,514 | $18,418 | 6% | 4% | | Take Rate | 13.99% | 13.96% | +0.03% | N/A | [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) This subsection details the company's liquidity, cash flows, and capital allocation, including stock repurchases - **Cash from operations decreased** primarily due to a $682 million increase in cash paid for taxes[213](index=213&type=chunk) - During the first six months of 2025, the company **repurchased $1.3 billion of its common stock** and had $2.0 billion remaining under its authorization as of June 30, 2025[228](index=228&type=chunk) Cash Flow Summary (Six Months Ended June 30, in millions) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $480 | $982 | | Net cash provided by investing activities | $1,379 | $902 | | Net cash used in financing activities | $(1,964) | $(1,805) | [Item 3: Quantitative and Qualitative Disclosures About Market Risk](index=55&type=section&id=Item%203%3A%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section outlines the company's exposure to interest rate, equity price, and foreign currency risks - A hypothetical **1% (100 basis point) increase in interest rates** would result in a $38 million decrease in the fair value of the company's investments as of June 30, 2025[235](index=235&type=chunk) - As of June 30, 2025, the company held **$912 million in equity investments**, primarily in privately-held companies, exposing it to equity price risk[237](index=237&type=chunk) - The company uses foreign exchange contracts to hedge its global revenue and cost exposures, resulting in an **immaterial impact on pre-tax income** from a hypothetical 20% adverse change in foreign exchange rates[240](index=240&type=chunk)[243](index=243&type=chunk)[245](index=245&type=chunk) [Item 4: Controls and Procedures](index=57&type=section&id=Item%204%3A%20Controls%20and%20Procedures) This section confirms the effectiveness of the company's disclosure controls and internal financial reporting - The Principal Executive Officer and Principal Financial Officer concluded that the company's **disclosure controls and procedures were effective** as of June 30, 2025[246](index=246&type=chunk) - There were **no material changes in internal control** over financial reporting during the most recently completed fiscal quarter[247](index=247&type=chunk) PART II: OTHER INFORMATION [Item 1: Legal Proceedings](index=58&type=section&id=Item%201%3A%20Legal%20Proceedings) This item references Note 10 for details on legal proceedings - Information regarding legal proceedings is detailed in **Note 10** to the condensed consolidated financial statements[250](index=250&type=chunk) [Item 1A: Risk Factors](index=58&type=section&id=Item%201A%3A%20Risk%20Factors) This section states no material changes to risk factors from the 2024 Annual Report - There have been **no material changes** to the Company's risk factors from those disclosed in the 2024 Form 10-K[251](index=251&type=chunk) [Item 2: Unregistered Sales of Equity Securities and Use of Proceeds](index=58&type=section&id=Item%202%3A%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details common stock repurchases of $625 million during Q2 2025 - For the three months ended June 30, 2025, eBay **repurchased $625 million of its common stock**, with $2.048 billion remaining available for future repurchases[253](index=253&type=chunk) Issuer Purchases of Equity Securities (Q2 2025) | Period Ended | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 30, 2025 | 3,039,668 | $65.32 | | May 31, 2025 | 2,996,252 | $70.85 | | June 30, 2025 | 2,793,308 | $76.67 | | **Total** | **8,829,228** | **N/A** | [Item 3: Defaults Upon Senior Securities](index=58&type=section&id=Item%203%3A%20Defaults%20Upon%20Senior%20Securities) This item is not applicable as there were no defaults on senior securities - Not applicable[256](index=256&type=chunk) [Item 4: Mine Safety Disclosures](index=58&type=section&id=Item%204%3A%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[257](index=257&type=chunk) [Item 5: Other Information](index=59&type=section&id=Item%205%3A%20Other%20Information) This section discloses the adoption of Rule 10b5-1 trading plans by two senior executives - On May 22, 2025, **Cornelius Boone, SVP, Chief People Officer**, adopted a 10b5-1 trading plan for the potential sale of up to 32,661 shares and the gifting of 1,471 shares[258](index=258&type=chunk) - On June 13, 2025, **Mazen Rawashdeh, SVP, Chief Technology Officer**, adopted a 10b5-1 trading plan for the potential sale of up to 41,558 shares[259](index=259&type=chunk) [Item 6: Exhibits](index=60&type=section&id=Item%206%3A%20Exhibits) This item lists all exhibits filed as part of the Quarterly Report on Form 10-Q - This section provides an index of all exhibits filed with the Form 10-Q, including **CEO/CFO certifications and Inline XBRL documents**[260](index=260&type=chunk)[262](index=262&type=chunk)
eBay Q2 Earnings Beat Estimates, Revenues Increase Y/Y, Stock Gains
ZACKS· 2025-07-31 16:16
Core Insights - eBay Inc. reported second-quarter 2025 non-GAAP earnings of $1.37 per share, exceeding the Zacks Consensus Estimate by 5.38%, with a year-over-year increase of 16.1% [1] - Net revenues reached $2.73 billion, surpassing the Zacks Consensus Estimate by 2.79%, and increased by 6.1% year-over-year on a reported basis [1] - Total gross merchandise volume (GMV) was $19.5 billion, reflecting a year-over-year growth of 6% on a reported basis, exceeding the Zacks Consensus Estimate of $19 billion [3] Financial Performance - eBay's first-party advertising products generated revenues of $455 million, marking a 19% increase on an as-reported basis [1] - Total advertising offerings yielded $482 million in revenues, representing 2.5% of the gross merchandise volume [2] - Operating expenses grew to $1.47 billion, a 14.1% increase year-over-year, with operating margin at 28.4%, expanding 40 basis points [4] GMV Breakdown - U.S. GMV totaled $9.43 billion, accounting for 48.3% of total GMV, with a year-over-year increase of 7.2% [3] - International GMV was $10.09 billion, representing 51.7% of total GMV, with a year-over-year increase of 4.8% [3] Balance Sheet & Cash Flow - As of June 30, 2025, cash equivalents and short-term investments were $3.75 billion, down from $4.79 billion as of March 31, 2025 [5] - Long-term debt improved to $5 billion, down from $5.75 billion in the prior quarter [5] - Operating cash flow turned negative at $307 million, a significant decline from $787 million in positive cash flow in the previous quarter [5] Shareholder Returns - eBay generated a negative free cash flow of $441 million during the second quarter [6] - The company repurchased $625 million worth of shares and paid out dividends of $134 million in the reported quarter [6] - Approximately $2 billion remained under its buyback authorization as of June 30, 2025 [6] Future Guidance - For Q3 2025, eBay expects revenues between $2.69 billion and $2.74 billion, with an anticipated FX-neutral revenue growth of 3-5% [8] - The non-GAAP operating margin for Q3 2025 is expected to be between 26.6% and 27.1% [8] - GMV for Q3 is projected to be between $19.2 billion and $19.6 billion [8] Earnings Expectations - Non-GAAP earnings per share for Q3 2025 are anticipated to be between $1.29 and $1.34, with the Zacks Consensus Estimate at $1.32 [9]
eBay(EBAY.US)涨超18% 二季度总营收同比增长6%
Zhi Tong Cai Jing· 2025-07-31 15:55
Core Viewpoint - eBay's stock price increased by over 18% following the release of its second-quarter financial results, indicating strong market reaction to the company's performance [1] Financial Performance - eBay reported total revenue of $2.7 billion for Q2, representing a 6% year-over-year growth [1] - The Gross Merchandise Volume (GMV) reached $19.5 billion, also showing a 6% year-over-year increase [1] - The GAAP net income from continuing operations was $369 million, with a GAAP operating margin of 17.7% [1] - Non-GAAP net income stood at $643 million, with a Non-GAAP operating margin of 28.4% [1] Advertising Business - Total revenue from eBay's advertising business was $482 million, accounting for 2.5% of GMV [1] - Revenue from first-party advertising products was $455 million, reflecting a 19% year-over-year growth [1] Cash Flow and Shareholder Returns - Operating cash flow for the quarter was $307 million, while free cash flow amounted to $441 million [1] - eBay returned $759 million to shareholders, which included $625 million in stock buybacks and $134 million in cash dividends [1]
美股异动 | eBay(EBAY.US)涨超18% 二季度总营收同比增长6%
智通财经网· 2025-07-31 15:51
Core Viewpoint - eBay's stock price surged over 18% following the release of its second-quarter financial results, indicating strong performance and positive market reaction [1] Financial Performance - eBay reported total revenue of $2.7 billion for Q2, representing a year-over-year growth of 6% [1] - The Gross Merchandise Volume (GMV) reached $19.5 billion, also showing a year-over-year increase of 6% [1] - The GAAP net income from continuing operations was $369 million, with a GAAP operating margin of 17.7% [1] - Non-GAAP net income stood at $643 million, with a Non-GAAP operating margin of 28.4% [1] Advertising Business - Total revenue from eBay's advertising business was $482 million, accounting for 2.5% of GMV [1] - Revenue from first-party advertising products was $455 million, reflecting a year-over-year growth of 19% [1] Cash Flow and Shareholder Returns - Operating cash flow for the quarter was $307 million, while free cash flow amounted to $441 million [1] - eBay returned $759 million to shareholders, which included $625 million in stock buybacks and $134 million in cash dividends [1]
eBay Impresses On Earnings, But Wall Street Sees Trade-Offs Ahead
Benzinga· 2025-07-31 15:10
Earnings season often brings surprises that can shift market dynamics, particularly as companies navigate post- pandemic economic recovery and evolving consumer behaviors. Shares of eBay Inc EBAY rallied in early trading on Thursday, after the company Wednesday reported upbeat second-quarter earnings. EBAY shares are trading near their annual peak. Track live prices here. The announcement came amid an exciting earnings season. Here are some key analyst takeaways. Cantor Fitzgerald On eBay Analyst Deepak Mat ...
美股异动|eBay大涨超17.5%创新高 Q2净利润同比大增63%
Ge Long Hui· 2025-07-31 13:52
电商平台eBay(EBAY.US)大涨超17.5%,最高触及91.15美元,创下历史新高。消息面上,eBay公布,第 二季度营收同比增长6%至27.3亿美元,市场预期为26.4亿美元;净利润同比增长63%至3.69亿美元,调 整后每股盈利2.77美元,市场预期为2.71美元。期内平台处理的交易额同比增长6%至195亿美元。公司 预期,第三财季营收介乎26.9亿至27.4亿美元,中间值优于市场预期的26.6亿美元。(格隆汇) ...
美股异动|eBay夜盘涨超11.5% Q2营收超预期 净利润同比大增63%
Ge Long Hui· 2025-07-31 01:45
电商平台eBay(EBAY.US)夜盘涨超11.5%,报86.5美元。消息面上,eBay公布,第二季度营收同比增长 6%至27.3亿美元,市场预期为26.4亿美元;净利润同比增长63%至3.69亿美元,调整后每股盈利2.77美 元,市场预期为2.71美元。期内平台处理的交易额同比增长6%至195亿美元。公司预期,第三财季营收 介乎26.9亿至27.4亿美元,中间值优于市场预期的26.6亿美元。(格隆汇) (原标题:美股异动|eBay夜盘涨超11.5% Q2营收超预期 净利润同比大增63%) ...