eBay Inc - EBAY STOCK NEWS

eBay Inc. (Nasdaq: EBAY) announced a change to its Gross Merchandise Volume (GMV) definition, now including all paid transactions, shipping fees, and taxes. This adjustment aligns GMV with actual customer money flows and is attributed to the company's global payment management transition. The impact on previously reported GMV is deemed immaterial, maintaining consistency with prior guidance. The revised GMV definition aims to enhance transparency and better reflect the company’s performance metrics.

eBay Inc. (Nasdaq: EBAY) unveiled its second annual Up & Running Grant program recipients, awarding $10,000 each to 50 small businesses across 25 U.S. states. The program supports sellers by providing funding and access to training resources and mentorship. Notably, 80% of items sold on eBay are from small businesses, which have seen a 27% growth in the past year. This initiative is part of eBay's commitment to fostering small business success and economic opportunity.

eBay has acquired Sneaker Con's authentication business, enhancing its Authenticity Guarantee service launched in October 2020. This acquisition, finalized on November 24, 2021, will bolster eBay's capability to authenticate sneakers, with over 1.55 million verified pairs sold since the service's inception. The move aims to strengthen trust among users in eBay's global sneaker marketplace, which offers over 1.9 million pairs daily. This partnership aligns with eBay's strategy to adapt to resale market trends while providing a seamless user experience.

eBay is launching 'Hard to Find Gift Shops' in Detroit, Miami, and Houston to offer sought-after holiday gifts starting from November 19. These shops will feature exclusive items in categories like sneakers, collectibles, and luxury goods, making shopping easier amid stock shortages reported by 70% of millennial and Gen Z shoppers. The sneaker shop in Detroit will highlight top styles, the collectibles shop in Houston will focus on trading cards, and the luxury shop in Miami will showcase iconic designer brands. For shoppers outside these cities, items are available online at ebay.com/hardtofindshop.

eBay Inc. (Nasdaq: EBAY) has finalized the transfer of an 80.01% stake in its Korean businesses to Emart for approximately $3 billion in gross cash proceeds. This strategic move is aimed at enhancing eBay's focus on its core marketplace, providing greater value to its customers, employees, and shareholders. While eBay retains a 19.99% interest in its Korean operations, including G-Market and IAC, it remains committed to a $7 billion share buyback program for this fiscal year. The company will file related details with the SEC.

eBay announces the launch of eBay Refurbished, a new online destination for like-new products, including refurbished items from top brands like Apple and Samsung, backed by warranties. The introduction follows a successful Certified Refurbished program, which saw a 170% increase in sales during Cyber 5 last year. This initiative comes amidst supply chain issues, providing consumers with more options at competitive prices. A survey indicates that 62% of Americans are considering refurbished items for gifts this holiday season, reinforcing a growing trend towards sustainable shopping.

eBay has launched "The Sleigh Drop," a sneaker sales event offering exclusive access to unique sneaker collections from notable sneakerheads, including DJ Skee, La La Anthony, and Jacques Slade. Kicking off on November 5, 2021, the event features over 700 pairs of coveted sneakers, with new items released every Friday in November. The drop continues into December with collections from Slade and Anthony. eBay's sneaker category is experiencing double-digit growth, with a sneaker sold every 4 seconds and pre-owned sneakers selling 15% faster month-over-month.

eBay Inc. (Nasdaq: EBAY) reported Q3 2021 earnings with a revenue of $2.5 billion, marking an 11% increase year-over-year. Gross merchandise volume (GMV) declined to $19.5 billion, a decrease of 10%. GAAP net income from continuing operations was $283 million, or $0.43 per diluted share, down 53% from the previous year. The company returned $2.4 billion to shareholders through repurchases and dividends. eBay's capital allocation plan increased share buybacks to $7.0 billion. Plans for climate action were highlighted, including a commitment to reduce emissions by 90% by 2030.

eBay has announced a significant commitment to climate action by setting a science-based target to reduce its greenhouse gas emissions by 90% by 2030 from a 2019 baseline. This initiative is aligned with the Paris Agreement and aims to combat global warming. Additionally, eBay plans to reduce scope 3 emissions by 20% within the same timeframe. The company also targets carbon neutrality for its offices and data centers by the end of 2021 and has already reduced its emissions by 19% from 2019 to 2020 through renewable energy investments.