![]() ![]() We expect further benefit from swelling interest in resale markets and a broader rollout of the firm's focused category approach-with the operator targeting 50% of gross merchandise volume, or GMV, in those categories by 2025. Nonetheless, the core business should have plenty of room to run, considering management's estimated $500 billion total addressable market for non-new, seasoned goods, which comprise 90% of platform gross merchandise volume, or GMV. The strategic pivot strikes us as a competitive necessity, with unsuccessful forays into logistics and first-party inventory and auxiliary services seeing the bulk of business-to-consumer, or B2C, sales migrate toward larger peers with sprawling store footprints, scaled fulfillment networks, or extensive buyer and seller features. The company has guided for GMV of $17.8-18.2 billion, which represents a decline of 2-5% on an organic FX-neutral basis.After divesting a number of noncore segments, eBay's marketplace looks similar to the vibrant platform of the early 2000s, with the firm leaning into its core competency of price discovery for non-new, in-season wares. This pressure on GMV is expected to continue in the second quarter. In Q1, GMV was down 5% on a reported basis and 2% on an FX-neutral basis to $18.4 billion. This acquisition is expected to help eBay protect customers from counterfeits, which will be a huge advantage. It also provides access to reliable product information and helps confirm authenticity. Certilogo uses digital technology to help brands and designers manage the lifecycle of their garments. ![]() Total advertising revenue grew 23% to $317 million.Įarlier this month, eBay acquired Certilogo, a provider of AI-powered apparel and fashion goods digital IDs and authentication. In Q1, strong demand for Promoted Listings drove a 31% YoY growth in first-party advertising revenue. The company’s advertising business also appears to be healthy. In Q1, eBay saw double-digit growth in its Refurbished gross merchandise volume (GMV). The company’s efforts in bringing on more small business sellers to its Refurbished program is also likely to prove beneficial. In a tough economic environment, these goods tend to have more demand among cash-strapped customers than new goods. Points to noteĮBay’s strategy of focusing on used and refurbished goods on its platform could continue to pay off. In Q1, adjusted EPS rose 5% YoY to $1.11. Analysts are projecting EPS of $0.99 for Q2, which is unchanged from the year-ago period. EarningsĮBay guided for GAAP EPS to range between $0.65-0.70 and adjusted EPS to range between $0.96-1.01 in Q2 2023. In Q1 2023, revenue rose 1% on a reported basis and 3% on an FX-neutral basis to $2.5 billion. Analysts are estimating revenue of $2.51 billion, which would reflect a YoY growth of 3.5%. ![]() Here’s a look at what to expect from the earnings report: RevenueĮBay has guided for revenues of $2.47-2.54 billion for Q2 2023, which reflects an organic FX-neutral year-over-year growth of 1-4%. The e-commerce company is slated to report its second quarter 2023 earnings results on Wednesday, July 26, after market close. (NASDAQ: EBAY) were up slightly during mid-day hours on Monday. ![]()
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