American firm eBay's revenue rises 5% in Q3 FY23

08 Nov '23

1 min read

Pic: JHVEPhoto - stock.adobe.com

Insights

American firm eBay Inc reported a revenue rise to $2.5 billion in Q3 FY23, a 5 per cent increase on both reported and FX-neutral bases.
The company's gross merchandise volume (GMV) reached $18 billion, with a stable FX-neutral performance.
Net income spiked to $1.3 billion in Q3 FY23, with a strong operating margin at 26.4 per cent non-GAAP.

eBay, a US-based global online marketplace, has reported an uplift in revenue for the third quarter of fiscal 2023 (Q3 FY23), with figures reaching $2.5 billion. This represents a 5 per cent increase on both an as-reported basis and when adjusted for foreign exchange (FX) impacts.

The company’s gross merchandise volume (GMV) showed a more modest rise of 2 per cent on an as-reported basis, totalling $18 billion, and remained relatively unchanged on an FX-neutral basis.

A significant leap was observed in eBay’s GAAP net income from continuing operations, which stood at $1.3 billion, equating to $2.46 per diluted share. In terms of non-GAAP figures, net income from continuing operations reached $545 million, or $1.03 per diluted share, presenting a robust financial position for the tech giant, the company said in its Q3 FY23 results.

Operational efficiency is reflected in eBay’s margins, with the GAAP operating margin reported at 18.2 per cent, and the non-GAAP operating margin at a higher 26.4 per cent.

Fibre2Fashion News Desk (DP)

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