Sales on eBay Marketplace, referred to as Gross Merchandise Volume (GMV), were $21.5 billion in the second quarter, down 5% on an as-reported basis and down 1% on a FX-Neutral basis. Marketplace revenue was $2.2 billion, which was 1% growth on an as-reported basis and 3% on a FX-Neutral basis (foreign currency).
eBay CEO Devin Wenig called out managed payments in the company’s press release, which “continues to exceed expectations.” Managed payments is currently available only in the US to select sellers, and eBay revealed it is on track to be live in Germany by the end of 2019, pending regulatory approval. 6,000 sellers are in the managed payments program, which processed $270 million of GMV during the second quarter.
Wenig also called out first party advertising, which is “providing significant benefits to sellers.” Over 940,000 sellers leveraged first-party advertising to promote over 250 million listings in the second quarter, netting eBay $89 million in revenue, a year-over-year growth rate of over 130% on a FX-Neutral basis.
Wenig also said new features were making the eBay Marketplace easier to use.
eBay grew active buyers by 4% across all of its platforms, for a total of 182 million global active buyers.
eBay has been pressured to consider selling its StubHub and Classifieds units, and it presented a portfolio update as follows:
“eBay has taken two actions in the last several weeks to strengthen its portfolio. First, the company has reached a commercial agreement with Paytm Mall to bring eBay’s global inventory onto one of the largest marketplaces in India. Second, eBay has reached an agreement to sell its flash sale German business brands4friends. The company is also actively reviewing the role and value of StubHub and Classifieds in its portfolio to determine the best path forward to maximize shareholder value.”
See the complete press release on the eBay Investor Relations website.
lol is there another company on the planet as large as eBay that has so little expectations? These numbers are crap once again with yet another GMV loss, while Wenig does the usual earnings spew. But eBay gets celebrated and the stock is pumped after hours. Does eBay really think this racket they’re running which is squeezing everyone for ever penny they can steal is sustainable while GMV continues to decline? When will sellers finally wake up and stop taking eBay’s abuse? When that finally happens eBay will be in a heap of trouble and won’t be able to continue fabricating results as they do.
BS, ebay charges a fee on sellers who recieve a return! Also you get a strike. Ebay fees and visibility games caused Q2 to be a diseaster for most power sellers , i know in Pa. Squeezing the life out of sellers is causing ebay to lose the brightest and the best veteran 20 year sellers. Quality goods are disappearing and the AI Algorithmic search system was disigned by Morons, with 22% accuracy of returned listings. ebay has lost its glow, end days are closing fast.
I would not be surprised if it’s because of the GTC mandate. They’ve been pushing these free listing promotions left and right but, with their dismal sell-through rates, I’ve only been able to use the auctions. No way I would list 500 fixed price listings only to be slapped with a relist fee a month later when nothing sold. The only way they’ll get my GMV up is to do a free listing promotion every week, because they sure as hell aren’t going to do anything positive with my sales.
I’ll just keep plugging at the local shows, so someday I don’t have anything left to collect dust on poorBay.