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eBay's Q3 revenues increase 11 percent

By Prachi Singh

28 Oct 2021


Image: eBay press room

For the third quarter, eBay Inc. delivered revenue of 2.5 billion dollars, up 11 percent on an as-reported basis and up 10 percent on a foreign exchange (FX) neutral basis.

The company’s GAAP net income was 283 million dollars or 43 cents per diluted share, while non-GAAP net income was 591 million dollars or 90 cents per diluted share.

“Our Q3 results, driven by the near completion of our managed payments migration, expansion of our advertising portfolio, and volume growth in our focus categories, demonstrate that our strategic playbook continues to work,” said Jamie Iannone, chief executive officer of eBay in a release.

eBay reported gross merchandise volume (GMV) of 19.5 billion dollars, down 10 percent on an as-reported basis and down 12 percent on an FX-Neutral basis.

The company’s annual active buyers declined by 5 percent, for a total of 154 million global active buyers, while annual active sellers were flat at 19 million global active sellers.

For the fourth quarter, the company expects revenues between 2.57 to 2.62 billion dollars, growth of 3 to 5 percent, GAAP diluted EPS in the range of 72 to 76 cents and diluted non-GAAP EPS in the range of 97 cents to 1.01 dollars.

eBay’s board of directors has declared a cash dividend of 18 cents per share of the company’s common stock.