eBay second quarter 2021 results show slowing Covid boost

By Chris Dawson August 12, 2021 - 1:26 pm

eBay have reported better than expected second quarter 2021 results but there are signs that the coronavirus boost to marketplaces is slowing as expected.

Revenue for eBay in the second quarter 2021 was $2.7 billion, up 14% on an as-reported basis and up 11% on a foreign exchange (FX) neutral basis. Gross merchandise volume (GMV) was $22.1 billion, down 7% on an as-reported basis and down 11% on an FX-Neutral basis. GAAP net income from continuing operations was $294 million, or $0.43 per diluted share. A cash dividend of $0.18 per share has been declared.

For Q3, eBay are forecasting revenue of $2.42 – $2.47 billion for the third quarter with Non-GAAP earnings per share in the region of $0.86 – $0.90.

It’s going to be interesting to watch all marketplaces over the next few months as the world starts to return to normal in many major territories. When shops were shut, marketplaces were the first place many consumers turned to but while they arrived quickly many could return to regular shopping habits just as quickly.

Results are in a few days late, delayed while calculating the impact of the agreement to sell 80.01% of eBay Korea business to Emart for approximately $3 billion and the completed the sale of the Classifieds business to Adevinta on June 24th for $13.3 billion. eBay have also entered into an agreement to sell approximately 135 million shares of eBay’s Adevinta stock to Permira for over $2.4 billion, reducing their ownership of Adevinta to 33%.

“I am pleased to announce another strong quarter. In Q2, on an apples-to-apples basis, all key business metrics met or exceeded expectations and revenue growth was driven by the acceleration in our payments migration and growth in advertising. During the quarter, we hit several important milestones in our ongoing transformation, including the transition of eBay’s Classifieds business – a deal that has already delivered exceptional shareholder value – and the announcement of the sale of our Korean business. We are simplifying our portfolio and growing our core while delivering significant shareholder value.

We remain relentlessly focused on accelerating our product innovation by harnessing the power of next-gen technology and creating a more seamless experience for sellers. We are delivering innovative category experiences for buyers and quickly evolving in our pursuit to be the best global marketplace to sell and buy”
– Jamie Iannone, Chief Executive Officer, eBay

Comments are closed.

Featured in this article from the Tamebay Guide – companies that can help you grow and manage your business.


eBay’s mission is to be the world’s favourite destination for discovering great value and unique selection

See More Companies >

Recent Comments

10 mins ago
Jonty: @Rob I agree eBay don’t listen. It’s blatant- people running businesses as private sellers. But...
24 hours ago
Rob: @Alan, yes ebay is probably the best platform to start a business on. Once you...
1 day ago
Noel Vance: FINAAAAAAALLLLLLLLLLYYYYYYYYYYYYYYYYY !!!!!!!!!!!!!!!!!!!!! They made 'next day delivery' a requirement for business sellers but never made it...
1 day ago
Alan Paterson: @ Jonty, i think he is exaggerating. Money is withheld for new starts but its...