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eBay(EBAY) - 2023 Q2 - Quarterly Report
2023-07-26 16:00
Financial Performance - Net revenues for Q2 2023 were $2,540 million, an increase of 4.9% compared to $2,422 million in Q2 2022[13]. - Gross profit for the first half of 2023 reached $3,632 million, up from $3,553 million in the same period last year, reflecting a growth of 2.2%[13]. - The company reported a net income of $171 million for Q2 2023, a significant recovery from a net loss of $531 million in Q2 2022[16]. - Basic earnings per share for continuing operations were $0.32 in Q2 2023, compared to a loss of $0.96 in Q2 2022[13]. - eBay reported a net income of $738 million for the six months ended June 30, 2023, compared to a net loss of $1,872 million for the same period in 2022[20]. - The company generated $1,442 million in net cash provided by operating activities for the six months ended June 30, 2023, an increase from $841 million in the prior year[20]. - Net revenues increased by 5% to $2,540 million for the three months ended June 30, 2023, compared to the same period in 2022, primarily due to investments in focus categories and higher take rates[195]. - For the first half of 2023, net revenues reached $5,050 million, up 3% from $4,905 million in the same period of 2022[202]. Assets and Liabilities - Total assets decreased to $19,956 million as of June 30, 2023, down from $20,850 million at the end of 2022[11]. - Total liabilities were $14,688 million as of June 30, 2023, a decrease from $15,697 million at the end of 2022[11]. - The company’s total stockholders' equity increased to $5,268 million as of June 30, 2023, from $5,153 million at the end of 2022[11]. - Cash and cash equivalents increased to $2,268 million as of June 30, 2023, compared to $2,154 million at the end of 2022[11]. - As of June 30, 2023, total long-term debt amounted to $7,721 million, a decrease from $8,871 million as of December 31, 2022[123]. Stockholder Activities - The company repurchased $503 million of common stock during the six months ended June 30, 2023, compared to $2,730 million in the same period of 2022[20]. - The company declared dividends of $140 million in the second quarter of 2023, compared to $124 million in the same quarter of 2022[18]. - The company paid a total of $133 million in cash dividends during the three months ended June 30, 2023, compared to $121 million in the same period of 2022[170]. - A quarterly cash dividend of $0.25 per share was declared in July 2023, to be paid on September 15, 2023[197]. Investment and Equity - The company experienced a loss of $214 million on equity investments in Q2 2023, compared to a loss of $1,221 million in Q2 2022[13]. - The company reported unrealized losses of $210 million for the three months ended June 30, 2023, compared to $829 million for the same period in 2022, related to equity investments[72]. - The fair value of the equity investment in Adevinta was $2,656 million as of June 30, 2023, down from $2,692 million as of December 31, 2022[72]. - The company’s equity investments totaled $3,308 million as of June 30, 2023, a decrease from $3,377 million as of December 31, 2022[67]. Operational Metrics - Operating expenses for Q2 2023 totaled $1,304 million, slightly higher than $1,234 million in Q2 2022, reflecting a 5.6% increase[13]. - Operating margin decreased to 20.4% for the three months ended June 30, 2023, down from 21.7% in the same period in 2022[195]. - Cash flow from continuing operating activities was $605 million for the three months ended June 30, 2023, compared to $577 million in the same period in 2022[196]. Legal and Regulatory Matters - The company is involved in ongoing legal and regulatory proceedings, with potential liabilities that could materially impact its financial results[151]. - The company accrued for probable losses of approximately $64 million in connection with ongoing government inquiries and civil actions[162]. - The company is under examination by tax authorities for the 2010 to 2021 tax years, with potential adjustments that could significantly change in the next 12 months[176]. Currency and Foreign Exchange - Foreign currency movements had an unfavorable impact of $9 million on net revenues in Q2 2023, compared to an unfavorable impact of $95 million in Q2 2022[206]. - The strengthening of the U.S. dollar against the British pound and euro has impacted financial results, with expectations of continued foreign currency volatility throughout 2023[205]. - The company actively monitors foreign currency volatility through hedging programs to mitigate risks associated with international revenues[205].
eBay Inc. (EBAY) Bernstein's 39th Annual Strategic Decisions Conference 2023 Transcript
2023-06-01 21:53
eBay Inc. (NASDAQ:EBAY) Bernstein's 39th Annual Strategic Decisions Conference 2023 June 1, 2023 11:00 AM ET Company Participants Steve Priest - Chief Financial Officer Conference Call Participants Nikhil Devnani - Bernstein Nikhil Devnani Good morning, everybody. Thank you for joining. My name is Nikhil Devnani, I'm Bernstein's U.S. midcap Internet analyst; And it's a pleasure to have Steve Priest, eBay’s CFO with me on stage today. Steve took over as CFO in June of 2021, and it's been obviously a very dyn ...
eBay Inc. (EBAY) 51st Annual J.P. Morgan Global Technology, Media and Communications Conference Transcript
2023-05-22 21:25
eBay Inc. (NASDAQ:EBAY) 51st Annual J.P. Morgan Global Technology, Media and Communications Conference Call May 22, 2023 11:15 AM ET Company Participants Stephen Priest - Chief Financial Officer Conference Call Participants Douglas Anmuth - J.P. Morgan Douglas Anmuth All right. We're going to go ahead and get started. I'm Doug Anmuth, J.P. Morgan's Internet Analyst. We're pleased to have with us today Steve Priest, CFO of eBay. So eBay, everybody knows, one of the world's largest and most vibrant marketplac ...
eBay(EBAY) - 2023 Q1 - Earnings Call Presentation
2023-04-27 01:33
Q1’23 | “ || | April 26,2023 Disclosures This GAAP provided currency This presentation contains forward-looking statements relating to, among other things, the future performance of eBay Inc., and its consolidated subsidiaries that are based on our expectations, forecasts and assumptions and involve risks and uncertainties. These statements include, but are not limited to, statements regarding the future performance of eBay consolidated subsidiaries, including management’s vision for the future of eBay and ...
eBay(EBAY) - 2023 Q1 - Earnings Call Transcript
2023-04-27 01:32
eBay Inc. (NASDAQ:EBAY) Q1 2023 Earnings Conference Call April 26, 2023 5:30 PM ET Company Participants John Egbert - Senior Director, IR Jamie Iannone - CEO Stephen Priest - CFO Conference Call Participants Nikhil Devnani - Bernstein Eric Sheridan - Goldman Sachs Wesley Sanford - JPMorgan Michael Morton - MoffettNathanson. Deepak Mathivanan - Wolfe Research Trevor Young - Barclays Lauren Schenk - Morgan Stanley Stephen Ju - Credit Suisse Lee Horowitz - Deutsche Bank Ygal Arounian - Citigroup Operator Good ...
eBay(EBAY) - 2023 Q1 - Quarterly Report
2023-04-26 16:00
FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 001-37713 eBay Inc. (Exact name of registrant as specified in its charter) Delaware 77-0430924 (State or other jurisdiction of ...
eBay Inc. (EBAY) Presents at Morgan Stanley Technology, Media & Telecom Conference (Transcript)
2023-03-06 19:10
eBay Inc. (NASDAQ:EBAY) Morgan Stanley Technology, Media & Telecom Conference March 6, 2023 11:35 AM ET Company Participants Jamie Iannone - CEO Steve Priest - CFO Conference Call Participants Lauren Schenk - Morgan Stanley Lauren Schenk Good morning, everyone. Thanks for joining us. My name is Lauren Schenk. I'm Morgan Stanley's small mid-cap interim analyst, and I'm excited to be joined this morning by Jamie Iannone, eBay's CEO; and Steve Priest, eBay's CFO. Thank you both so much for joining us. Jamie Ia ...
eBay(EBAY) - 2022 Q4 - Earnings Call Presentation
2023-02-23 00:40
BUSINESS & FINANCIAL HIGHLIGHTS Q4’22 Disclosures This presentation contains non-GAAP measures relating to our performance. You can find the reconciliation of these measures, except for FX-Neutral basis, to the nearest comparable GAAP measures in the appendix at the end of this presentation. All growth rates represent year-over-year comparisons, except as otherwise noted. For numbers in this presentation provided on an “FX-Neutral” basis, we calculate the year-over-year impact of foreign currency movements ...
eBay(EBAY) - 2022 Q4 - Earnings Call Transcript
2023-02-23 00:04
eBay Inc. (NASDAQ:EBAY) Q4 2022 Earnings Conference Call February 22, 2023 5:00 PM ET Company Participants John Egbert - Senior Director, Investor Relations Jamie Iannone - Chief Executive Officer Steve Priest - Chief Financial Officer Conference Call Participants Colin Sebastian - Baird Tom Champion - Piper Sandler Nikhil Devnani - Bernstein Ross Sandler - Barclays Stephen Ju - Credit Suisse Doug Anmuth - JPMorgan Deepak Mathivanan - Wolfe Research Mark Mahaney - Evercore Operator Ladies and gentlemen, tha ...
eBay(EBAY) - 2022 Q4 - Annual Report
2023-02-22 16:00
Commission file number 001-37713 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to . eBay Inc. (Exact name of registrant as specified in its charter) Delaware 77-0430924 (State or other jurisdiction of incorporation or o ...