E-commerce company eBay has reported a revenue of $2.57bn for the fourth quarter of the fiscal year 2024 (FY24) – a 1% increase on both an as-reported basis and when adjusted for foreign exchange (FX) impacts when compared to the same quarter of fiscal 2023.
The company’s gross merchandise volume (GMV) for the quarter reached $19.3bn – a rise of 4% on an as-reported basis and 3% on an FX-neutral basis [calculating and disclosing financial amounts on the basis of the same foreign exchange rates in successive periods].
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Despite the growth in GMV, eBay’s generally accepted accounting principles (GAAP) net income from continuing operations witnessed a decline, settling at $680m – a 7% decrease from $728m reported in the corresponding quarter of the last fiscal year.
Its earnings per diluted share (EPS) held steady at $1.40.
The company’s operating margins for Q4 FY24 stood at 21.1% on a GAAP basis and improved to 27.0% on a non-GAAP basis.
The company’s gross profit also improved slightly to $1.86bn in Q4 FY24 from $1.85bn in Q4 FY23.
eBay chief financial officer Steve Priest stated: “eBay delivered strong results in the fourth quarter, as we met or exceeded expectations across our key financial metrics. We created a solid foundation to build upon in 2025, and our outlook reflects our confidence in eBay’s ability to drive sustainable long-term growth.”
For the full fiscal year 2024, eBay recorded revenues of $10.28bn – a 2% increase from $10.11bn in FY23.
The annual GMV also saw a modest rise of 2%, reaching $74.7bn.
However, GAAP net income from continuing operations for the year experienced a significant drop of 29%, falling to $1.98bn from $2.77bn in FY23.
This was reflected in the earnings per share (EPS), which decreased to $3.95 from $5.21 in the previous year.
The company maintained solid operating margins throughout the fiscal year with GAAP and non-GAAP margins reported at 22.5% and 28.1%, respectively.
Over the fiscal year, eBay returned $3.7bn to shareholders, which included $3.1bn in share repurchases and $533m paid out as cash dividends.
eBay CEO Jamie Iannone stated: “eBay achieved three consecutive quarters of GMV growth to end 2024, and we took significant steps toward our vision of re-inventing the future of e-commerce for enthusiasts. I’m proud of how the team has innovated for our buyers and sellers, which has driven significant value for shareholders.”
Looking ahead to the first quarter of FY25, eBay anticipates net revenues to be in the range of $2.52 to $2.56bn, with projected GMV between $18.3 and $18.6bn.
The company anticipates diluted EPS to be between $0.98 and $1.02.
