Ebay grew active buyers by its platforms
The revenue of Ebay Inc has been recorded at $2.6 billion, increasing 6 per cent on a reported basis and 6 per cent on a foreign exchange (FX) neutral basis, primarily driven by gross merchandise volume (GMV) of $22.7 billion. In the third quarter, Ebay grew active buyers by 4 per cent across its platforms, for a total of 177 million global active buyers.
During the quarter, Ebay delivered Gaap net income from continuing operations of $720 million, or $0.73 per diluted share and Non-Gaap net income from continuing operations of $554 million, or $0.56 per diluted share. The company generated $560 million of operating cash flow and $381 million of free cash flow from continuing operations while also repurchasing approximately $1.0 billion of its common stock in the quarter.
“This quarter we continued to make foundational investments to improve the long-term competitiveness of our marketplace while setting the stage for significant growth opportunities,” said Devin Wenig, president and CEO of Ebay Inc. “We will continue to innovate the customer experience while executing our growth initiatives in payments and advertising to position Ebay for future success.”
Ebay rolled out a number of new or expanded programs for its customers during the quarter.
For sellers, eBay and Square Capital announced a partnership that enables Ebay’s sellers in the US to access up to $100,000 in funding in as little as one business day to help them grow their businesses. For buyers, Ebay continued to scale guaranteed delivery and launched the service in Australia. For its developer community, Ebay introduced new application programming interfaces that allow developers to now incorporate eBay features such as Image Search, machine translation and marketplace feeds into their own platforms.
In the fourth quarter of fiscal 2018, the company expects net revenue between $2.85 billion and $2.89 billion, representing organic FX-Neutral growth of 4 – 5 per cent, with Gaap earnings per diluted share from continuing operations in the range of $0.87 – $0.92 and non-Gaap earnings per diluted share from continuing operations in the range of $0.67 – $0.69.
For fiscal 2018, the company now expects net revenue between $10.72 billion and $10.76 billion, representing organic FX-Neutral growth of approximately 6 per cent, with Gaap earnings per diluted share from continuing operations in the range of $2.62 – $2.67 and non-GAAP earnings per diluted share from continuing operations in the range of $2.29 – $2.31. (RR)
Fibre2Fashion News Desk – India