eBay's Q4 results beat expectations

eBay reported fourth quarter revenue of 2.6 billion dollars, up 2 percent on a reported basis and up 3 percent FX neutral basis, beating analysts’ expectations of 2.51 billion dollars, according to LSEG data. GMV of 18.6 billion dollars, was up 2 percent on a reported basis and nearly flat on an FX-neutral basis.

For the full year, revenue was 10.1 billion dollars, up 3 percent on a reported basis and up 4 percent on an FX-neutral basis. GMV of 73.2 billion dollars, was down 1 percent on a reported and FX-neutral basis.

"Our organic GMV growth improved year-over-year during each quarter of 2023, while navigating a challenging macroeconomic environment. Our results demonstrate the strength of our strategy, and I'm proud of our accelerated pace of innovation as we work to fundamentally enhance the customer experience on eBay," said Jamie Iannone, chief executive officer at eBay.

GAAP net income for the quarter was 728 million dollars or 1.40 dollars per diluted share and non-GAAP net income was 560 million dollars or 1.07 dollars per diluted share. GAAP and Non-GAAP operating margin was 16 percent and 26.7 percent, respectively.

Full year GAAP net income was 2.8 billion dollars or 5.21 dollars per diluted share, while non-GAAP net income was 2.3 billion dollars or 4.24 dollars per diluted share. GAAP and Non-GAAP operating margin was 19.2 percent and 27.4 percent, respectively.

eBay's board of directors has declared a cash dividend of 27 cents per share payable on March 25, 2024 to stockholders of record as of March 11, 2024 and also authorised an additional 2 billion dollars share repurchase program.