eBay Inc. Reports Fourth Quarter and Full Year 2024 Results

Core Insights - eBay reported strong financial results for Q4 and full year 2024, achieving three consecutive quarters of GMV growth and laying a solid foundation for sustainable long-term growth in 2025 [2][6][8] Financial Highlights - Q4 revenue reached $2.6 billion, a 1% increase year-over-year, while full year revenue was $10.3 billion, up 2% [6][8] - Gross Merchandise Volume (GMV) for Q4 was $19.3 billion, up 4% year-over-year, and full year GMV was $74.7 billion, also up 2% [6][8] - GAAP net income for Q4 was $680 million, or $1.40 per diluted share, while full year GAAP net income was $2.0 billion, or $3.95 per diluted share [7][8] - Non-GAAP net income for Q4 was $607 million, or $1.25 per diluted share, and for the full year, it was $2.4 billion, or $4.88 per diluted share [7][8] - Operating cash flow for Q4 was $677 million, and free cash flow was $560 million [7][14] Business Developments - eBay made significant investments in the U.K. market to enhance the customer experience for consumer-to-consumer sellers, including the introduction of a simplified listing flow and the elimination of final value fees for C2C sellers [6][7] - The company expanded its AI-powered bulk listing tool to all categories in the U.S., facilitating easier listing creation for sellers [6][7] - eBay's advertising offerings generated $445 million in revenue during Q4, representing 2.3% of GMV, with first-party advertising products increasing by 18% year-over-year [6][7] - The introduction of Klarna's 'buy now, pay later' payment options in multiple European countries aims to enhance payment flexibility for shoppers [6][7] Shareholder Returns - eBay returned $1.0 billion to stockholders in Q4, including $900 million in share repurchases and $128 million in cash dividends [6][7] - For the full year, the total return to stockholders was $3.7 billion, comprising $3.1 billion in share repurchases and $533 million in cash dividends [7][8] Future Outlook - eBay provided guidance for Q1 2025, projecting revenue between $2.52 billion and $2.56 billion, with GMV expected to be between $18.3 billion and $18.6 billion [11][33]