eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today reported financial results for its fourth quarter and full year ended December 31, 2023.
"Last year, we made significant progress toward our vision to reinvent the future of ecommerce for enthusiasts," said Jamie Iannone, Chief Executive Officer at eBay. "Our organic GMV growth improved year-over-year during each quarter of 2023, while navigating a challenging macroeconomic environment. Our results demonstrate the strength of our strategy, and I'm proud of our accelerated pace of innovation as we work to fundamentally enhance the customer experience on eBay."
"I'm pleased that we met or exceeded expectations across our key financial metrics in Q4," said Steve Priest, Chief Financial Officer at eBay. "Our fortress balance sheet and durable financial model enabled us to invest in our strategic pillars while protecting earnings growth and delivering robust capital returns. I'm proud of the strong execution throughout 2023 and I'm confident our strategy will drive long-term shareholder value."
Revenue of $2.6 billion, up 2% on an as-reported basis and up 3% on an FX-Neutral basis
Gross Merchandise Volume of $18.6 billion, up 2% on an as-reported basis and nearly flat on an FX-Neutral basis
GAAP and Non-GAAP earnings per diluted share of $1.40 and $1.07, respectively, on a continuing operations basis
GAAP and Non-GAAP operating margin of 16.0% and 26.7%, respectively
Returned $379 million to shareholders in Q4, including $250 million of share repurchases and $129 million paid in cash dividends
In February 2024, the Board of Directors declared a cash dividend for the first quarter of 2024 of $0.27 per share, an 8% increase from the prior quarterly dividend. The Board also authorized an additional $2.0 billion stock repurchase program, increasing the company's remaining stock repurchase authorization to $3.4 billion