Published on 2 May 2024 on Zacks via Yahoo Finance

eBay (EBAY) Q1 Earnings & Revenues Beat Estimates, Rise Y/Y

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 reported basis and 28% on an FX-neutral basis from the prior-year quarter.Total advertising offerings yielded $384 million in revenues, which grew 20% year over year on a FX-neutral basis.EBAY has gained 17.6% on a year-to-date basis, outperforming the industry’s growth of 8%.However, the weakness in third-party advertising products, which generated $14 million in revenues in the reported quarter, was a negative. The figure moved down 55% year over year on a FX-neutral basis.The weakening momentum among active buyers was concerning. EBAY witnessed a year-over-year decline of 1% in its active buyer base, which stood at 132 million at the end of the first quarter. The figure was in line with the consensus mark.The active buyer count stood at 131 million, excluding contributions from GittiGidiyor and TCGplayer acquisitions.Nevertheless, the growing gross merchandise volume (GMV) contributed well.

eBay Inc. Price, Consensus and EPS Surprise