US-based e-commerce firm eBay has reported revenues of $2.6bn in the fourth quarter (Q4) of the fiscal year 2021 (FY21), up by 5% on an as-reported basis from a year earlier.

The company’s gross merchandise volume dropped by 10% on an as-reported basis to $20.7bn.

eBay’s net income from continuing operations in the quarter was $647m, or $1.05 for each of its diluted shares, not calculated according to generally accepted accounting principles (GAAP).

The retailer’s GAAP net loss from its continuing operations stood at $893m.

eBay’s revenue for the full year was $10.4bn, a 17% increase on an as-reported basis from the prior year.

The company’s net income grew 12% to $2.6bn, compared with $2.38bn in the previous year.

It reported GAAP net income from continuing operations of $252m.

For the first quarter (Q1) of FY22, eBay expects its revenue to be between $2.43bn and $2.48bn, representing a decline of 7% to 5% from the prior year.

For the full year, the company expects revenues of between $10.3bn and $10.5bn, which would represent an increase of 0% to 3%.

The company’s number of annual active buyers fell by 9%, resulting in a total of 147 million global active buyers.

It also had 8% fewer active sellers for a total of 17 million active sellers worldwide.

eBay CEO Jamie Iannone said: “Rounding out a very strong year, I’m proud of our team for delivering yet another solid quarter.

“By investing in our strategy to drive sustainable growth, we increased customer satisfaction, improved the seller and buyer experience and returned value to our shareholders.

“During the quarter, we completed our multi-year payments transition and generated growth in both our advertising business and focus categories.

“As we continue to accelerate our strategy, we are well-positioned for future growth.”

In November last year, eBay divested 80.01% of its shareholdings in its off-platform businesses in South Korea to Emart for around KRW3.44tn ($3.0bn).