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eBay's Q2 revenue increases 4% to $2.3bn

RBR Staff Writer Published 21 July 2017

E-commerce giant eBay has reported an increase of 4% in its net revenue to $2.3bn in the second quarter of this year, compared to $2.2bn for the same period in 2016.

The online retailer has achieved a gross merchandise volume (GMV) of $21.5bn for Q2 2017 which ended 30 June 2017.

It reflects an increase of 3% compared to the GMV of $20.8bn made in the same period last year.

eBay said that from continuing operations, it had generated an operating cash flow of $699m and free cash flow of $517m during the second quarter. It had also repurchased $507m of its common stock in the reported period.

The American e-commerce firm’s Marketplace platforms recorded GMV of $20.5bn, which marked an increase by 3% compared to the Q2 2016 GMV of $17.8bn. eBay has credited the growth to the continued expansion of new user experiences coupled with its marketing efforts.

Marketplace platforms brought the company net revenue of $1.9bn in the second quarter.

StubHub on the other hand, recorded a $1bn GMV which was a decline by 5% compared to the second quarter of the previous year. The online ticket exchange business collected net revenue of $236m in the reported period which was a 5% increase as per eBay.

eBay president and CEO Devin Wenig said that the company led by acceleration in Marketplace had delivered strong top and bottom line financial results.

Wenig added: “During the past two years, we have made significant progress to modernize eBay and drive growth by improving the customer experience, creating a product catalog that covers more than half of our inventory, and sharpening the eBay brand.

“We are on track and focused on creating an even stronger eBay for years to come.”

Last month, eBay had announced a price match guarantee scheme in the US on over 50,000 deals in a bid to compete with Amazon, Walmart, BestBuy among other e-commerce rivals.

Image: eBay campus in San Jose, California. Photo: courtesy of eBay Inc.