US-based e-commerce company eBay has reported first quarter (Q1) revenue of $2.5bn in fiscal year (FY) 2023.
The figure represents a growth of 1% on an as-reported basis and 3% on a foreign exchange (FX) neutral basis.
Go deeper with GlobalData
eBay’s net income from continuing operations was $569m and its operating margin declined to 22.2% for the quarter ending 31 March 2023, as calculated according to generally accepted accounting principles (GAAP).
The company’s GAAP earnings per diluted share (EPS) were $1.05 for Q1 FY23.
Its gross merchandise volume (GMV) for the quarter was $18.4bn, down 5% on an as-reported basis compared to Q1 FY22.
See Also:
eBay’s GAAP operating margin was 22.2% while the non-GAAP operating margin was 29.6% for Q1 FY23.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe company’s non-GAAP net income from continuing operations was $600m in Q1 FY23, down 4% from $625m in the same period a year ago.
Its non-GAAP EPS increased 5% to $1.11 over the quarter.
eBay chief executive officer Jamie Iannone said: “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.
“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.”
In the second quarter of FY23, eBay expects revenue in the range of $2.47bn to $2.54bn and diluted GAAP EPS within $0.65 to $0.70.
In February 2023, the company acquired the artificial intelligence-based online retail solutions firm 3PM Shield,
