eBay's revenue and GMV increase in Q1

eBay’s first quarter revenue was 2.6 billion dollars, up 2 percent on an as-reported basis and up 2 percent on a foreign exchange (FX) neutral basis.

Gross merchandise volume (GMV) was 18.6 billion dollars, up 1 percent on an as-reported basis and roughly flat on an FX-neutral basis.

"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.

The company’s GAAP net income from continuing operations was 439 million or 85 cents per diluted share, while non-GAAP net income from continuing operations was 648 million dollars or 1.25 dollars per diluted share.

GAAP and non-GAAP operating margin was 24.7 percent and 30.3 percent, respectively.

eBay returned 638 million dollars to shareholders, including 499 million dollars of share repurchases and 139 million dollars paid in cash dividends.

For the first quarter, the company’s board of directors has declared a cash dividend of 27 cents per share of the company's common stock.