eBay posts decline in revenue and GMV

eBay Inc. reported revenue of 2.4 billion dollars, down 9 percent on an as-reported basis and down 6 percent on a foreign exchange (FX) neutral basis.

Gross merchandise volume (GMV) was 18.5 billion dollars, down 18 percent on an as-reported basis and down 14 percent on an FX-neutral basis.

"Our team delivered better than expected financial results across the board while continuing to make significant progress on our long-term initiatives," said Jamie Iannone, CEO of eBay.

The company’s GAAP net loss from continuing operations was 536 million dollars or loss of 96 cents per diluted share.

Non-GAAP net income from continuing operations was 554 million dollars or 99 cents per diluted share.

GAAP and Non-GAAP operating margin was 21.7 percent and 28.7 percent, respectively.

The company returned over 1.4 billion dollars to shareholders, including approximately 1.3 billion dollars of share repurchases and 121 million dollars paid in cash dividends.

eBay's board of directors has declared a cash dividend of 22 cents per share of the company's common stock payable on September 16, 2022 to stockholders of record as of September 1, 2022.