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American firm eBay's revenue up 1% to $2.6 bn in Q2 FY24

02 Aug '24

1 min read

American firm eBay's revenue up 1% to $2.6 bn in Q2 FY24

Pic: JHVEPhoto - stock.adobe.com

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US' eBay reported Q2 FY24 revenue of $2.6 billion, a 1 per cent increase, and a 2 per cent rise on an FX-neutral basis.
Gross merchandise volume reached $18.4 billion, up 1 per cent.
The company's GAAP net income was $226 million, or $0.45 per share.
Non-GAAP net income was $602 million, or $1.18 per share.
Operating margins was 21.3 per cent (GAAP).

eBay, a US-based multinational e-commerce corporation, has reported a revenue of $2.6 billion for the second quarter of fiscal 2024 (Q2 FY24), marking a 1 per cent increase on an as-reported basis and a 2 per cent rise on a foreign exchange (FX) neutral basis.

Gross merchandise volume (GMV) for the quarter reached $18.4 billion, up 1 per cent on both an as-reported and FX-neutral basis, the company said in a press release.

The company's GAAP net income from continuing operations was $226 million, translating to $0.45 per diluted share. On a non-GAAP basis, net income from continuing operations was significantly higher at $602 million, or $1.18 per diluted share.

eBay’s operating margins also showed solid performance, with GAAP operating margin at 21.3 per cent and non-GAAP operating margin at 27.9 per cent.

"eBay's strong Q2 results mark another step toward achieving sustainable, long-term growth," said Jamie Iannone, chief executive officer at eBay. "The continued momentum in focus categories contributed to our increase in GMV, while new AI capabilities are driving innovation across the platform and transforming the experience for eBay customers around the world."

Fibre2Fashion News Desk (DP)

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