NASDAQ$EBAY

eBay · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

eBay's Q3 2022 results demonstrated progress against long-term objectives and exceeded expectations for all key business metrics.

eBay Inc. reported its Q3 2022 financial results, with revenue of $2.4 billion, a 5% decrease year-over-year, and a GAAP net loss of $70 million. However, non-GAAP net income was $552 million, or $1.00 per diluted share. The company returned $421 million to shareholders through share repurchases and cash dividends.

  • Revenue was $2.4 billion, down 5% year-over-year.
  • Gross Merchandise Volume (GMV) was $17.7 billion, down 11% year-over-year.
  • GAAP net loss from continuing operations was $70 million, or $(0.13) per diluted share.
  • Non-GAAP net income from continuing operations was $552 million, or $1.00 per diluted share.

Headline financials

Total Revenue

$2.38B

Previous: $2.5B-4.8%
EPS (adj)

$1.00

Previous: $0.90+11.1%
Active Buyers

135.0M

Previous: 154.0M-12.3%
Total GMV

$17.7B

Previous: $19.5B-9.2%
Capital Expenditures

-$296M

Previous: -$341M+13.2%
Free Cash Flow

-$365M

Previous: -$77M-374.0%
Net Income

-$69M

Previous: $264M-126.1%
Operating Income

$568M

Previous: $662M-14.2%
Gross Profit

$1.73B

Previous: $1.82B-4.9%
Cash & Equivalents

$2.04B

Previous: $1.24B+63.7%
Total Assets

$19.1B

Previous: $29.3B-34.7%
Stock-Based Comp

$118M

Previous: $127M-7.1%

Revenue & EPS history

eBay · Revenue · Quarterly

$2.38B

Q3 2022-4.8%vs Q3 2021
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Revenue by segment

eBay · $366M total across 1 segment · Q3 2023

  • Total Advertising
    $366M

Forward guidance

eBay provided guidance for Q4 2022, expecting revenue between $2.42 and $2.50 billion and diluted EPS from continuing operations between $0.76 and $0.82 (GAAP) and $1.03 and $1.09 (Non-GAAP). For the full year 2022, revenue is expected to be between $9.71 and $9.79 billion, and diluted EPS from continuing operations between $(2.74) and $(2.68) (GAAP) and $4.07 and $4.13 (Non-GAAP).

Tailwinds

  • Net Revenue between $2.42 - $2.50 billion for Q4 2022
  • Organic FX-Neutral Y/Y Growth of (4)% - (1)% for Q4 2022
  • Diluted GAAP EPS between $0.76 - $0.82 for Q4 2022
  • Diluted Non-GAAP EPS between $1.03 - $1.09 for Q4 2022
  • Cash dividend of $0.22 per share payable on December 16, 2022

Headwinds

  • Net Revenue between $9.71 - $9.79 billion for full year 2022
  • Organic FX-Neutral Y/Y Growth of (4)% - (3)% for full year 2022
  • Diluted GAAP EPS between $(2.74) - $(2.68) for full year 2022
  • Diluted Non-GAAP EPS between $4.07 - $4.13 for full year 2022
  • The estimated GAAP diluted EPS above does not assume any gains or losses on our equity investments.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2022

Historical avgQ3 2022

-0.4%

Avg return

Earnings day

-0.7%

Avg return

5 days after

+0.5%

Avg return

30 days after

45%

33 / 73 earnings

Positive

+14.3%

Q4 2017

Best reaction

-13.2%

Q4 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.8%+1.4%+5.3%
Q4 2025-3.2%+3.8%+8.3%
Q3 2025-9.9%-17.9%-16.8%
Q2 2025-0.0%+0.9%-1.2%
Q1 2025-0.7%+3.2%+7.4%
Q4 2024-8.2%-3.6%-2.9%
Q3 2024-8.4%-4.0%+0.8%
Q2 2024+1.5%-1.3%+6.7%
Q1 2024-4.2%-4.2%+5.2%
Q4 2023+9.1%+9.5%+20.3%
Q3 2023-1.0%-1.3%+2.8%
Q2 2023-9.6%-7.9%-9.8%
Q1 2023+3.5%+3.7%+0.8%
Q4 2022-5.3%-4.4%-10.9%
Q3 2022-2.5%+1.9%+13.5%
Q2 2022-1.2%-1.7%-8.9%
Q1 2022-10.1%-7.9%-11.9%
Q4 2021+0.5%-1.0%+4.1%
Q3 2021-7.8%-2.8%-7.7%
Q2 2021+2.3%+11.8%+7.8%
Q1 2021-9.1%-5.8%-1.3%
Q4 2020+6.6%+11.4%-6.2%
Q3 2020-8.0%-10.6%-4.1%
Q2 2020-4.7%-3.4%-1.6%
Q1 2020+1.9%+1.9%+16.5%
Q4 2019-2.5%-5.4%-1.2%
Q3 2019-8.5%-7.7%-9.8%
Q2 2019-0.4%+1.9%+0.3%
Q1 2019+6.6%+6.1%-0.6%
Q4 2018+0.2%+0.9%+9.2%
Q3 2018+8.2%+11.4%+10.1%
Q2 2018-9.8%-10.6%-10.1%
Q1 2018-6.1%-8.0%-7.9%
Q4 2017+14.3%+4.9%+6.3%
Q3 2017-0.5%-1.8%-5.1%
Q2 2017-1.3%-2.0%-6.2%
Q1 2017-4.4%-5.8%-0.6%
Q4 2016+5.8%+7.3%+13.6%
Q3 2016-8.3%-7.6%-9.3%
Q2 2016+12.9%+15.8%+15.6%
Q1 2016+4.3%
Q4 2015-13.2%
Q3 2015+12.9%
Q2 2015+4.5%
Q1 2015+4.4%
Q4 2014+6.5%
Q3 2014-5.4%
Q2 2014+0.4%
Q1 2014-3.4%
Q4 2013+1.4%
Q3 2013-4.8%
Q2 2013-5.8%
Q1 2013-7.3%
Q4 2012+3.2%
Q3 2012+5.4%
Q2 2012+12.5%
Q1 2012+12.6%
Q4 2011+2.0%
Q3 2011+0.7%
Q2 2011+1.1%
Q1 2011-0.8%
Q4 2010-1.9%
Q3 2010+9.4%
Q2 2010+1.0%
Q1 2009+1.9%
Q1 2010-2.1%
Q4 2009+1.4%
Q4 2007+1.4%
Q3 2008-2.5%
Q3 2009-2.5%
Q2 2008-0.8%
Q2 2009-0.8%
Q4 2008-0.8%

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