EBay Swings to 2Q Loss
August 03 2022 - 4:53PM
Dow Jones News
By Kathryn Hardison
Online marketplace eBay Inc. swung to a loss in its second
quarter on lower sales and fewer active buyers during the
period.
The company posted a loss of $531 million, or 95 cents a share,
compared with a year-earlier profit of $10.73 billion, or $15.68 a
share. Adjusted earnings were 99 cents a share. Analysts polled by
FactSet had expected 66 cents a share and adjusted earnings of 89
cents a share.
Revenue fell to $2.4 billion, down from $2.67 billion a year
ago. Analysts were expecting $2.37 billion.
Gross merchandise volume for the quarter was $18.5 billion, down
18%.
EBay said it saw 138 million active buyers for the period, down
from 156 million active buyers a year ago.
Write to Kathryn Hardison at kathryn.hardison@wsj.com
(END) Dow Jones Newswires
August 03, 2022 16:38 ET (20:38 GMT)
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