Sign at eBay HQ in San Jose California

eBay Releases First Quarter 2023 Financials

eBay released its First Quarter 2023 earnings report today, and here are some noteworthy figures that sellers may find interesting regarding the overall health of the company.

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“I am proud of our team for delivering another strong quarter. This is a solid start to the year as we’ve exceeded expectations on our key financial and operating commitments while making significant progress against our long-term objectives,” said Jamie Iannone, Chief Executive Officer at eBay.

“We saw strength in our focus categories, which once again outpaced the rest of the marketplace. And the combination of eBay’s vast data and AI expertise are accelerating innovation on the platform.

“Our strategic initiatives continue to have a meaningful impact on our long-term growth trajectory,” said Steve Priest, Chief Financial Officer at eBay.

“Our Q1 results demonstrate the strength and durability of our scaled, global marketplace during periods of economic uncertainty.”

First Quarter 2023 Financial Highlights:

  • Total Gross Merchandise Volume (GMV): $18.4 billion, down 5% YoY
  • GMV United States: $9 billion, down from $9.3 billion YoY
  • GMV International: $9.4 billion, down from $10 billion YoY
  • Revenue: $2.5 billion, up 1% YoY
  • Net Income (loss): $744 million, down $61 million YoY
  • Active Buyers: 131 million*, down 5% YoY

* Excludes active buyers from GittiGidiyor and TCGplayer. eBay is closing down the Turkish marketplace GittiGidiyor and completed the acquisition of TCGplayer at the end of October. With these two marketplaces included, active buyers are 133 million. Active buyers are buyers who made at least one purchase over the past 12 months.

Additional Notes From eBay Press Release

  • In the first quarter, eBay’s revenue from first-party advertising products, mainly powered by Promoted Listings, amounted to $285 million, indicating a 27% increase on an as-reported basis and a 31% increase on an FX-Neutral basis.
  • The total revenue generated by the company’s advertising offerings was more than $317 million, accounting for approximately 1.7% of GMV.
  • eBay has introduced a new social page within the Seller Hub, allowing Store sellers to publish and advertise their listings on several connected social accounts using a single tool. This feature enables sellers to post in bulk on various popular social channels, and the content is automatically adjusted to suit each platform, incorporating interactive carousels that allow potential buyers to browse through several listings in one post.

We will dig through the earnings call later today to see what other noteworthy items may be mentioned. To see the full press release on the company’s First Quarter 2023 earnings, click here.

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