eBay Inc - EBAY STOCK NEWS

eBay reported Q1 2022 revenue of $2.5 billion, down 6% year-over-year, with a gross merchandise volume of $19.4 billion, a decline of 20%. The company posted a GAAP net loss of $1.3 billion, resulting in a loss of $2.28 per diluted share. Non-GAAP earnings were $625 million, equating to $1.05 per diluted share. Despite challenges, eBay returned $1.4 billion to shareholders and continues to invest in growth initiatives while navigating macroeconomic headwinds.

eBay has introduced its third annual Up & Running Grants program to support U.S. small businesses, investing over $1,500,000 since 2020. The program offers $10,000 grants to 50 small business sellers for various business needs, including inventory and technology enhancements. Recipients will benefit from eBay Academy, an online learning platform, and mentorship through a partnership with Hello Alice. The application period is open until June 10, 2022.

eBay has announced the expansion of its 'Authenticity Guarantee' service to include graded collectible card games and sports trading cards priced at $2,000 or more, in partnership with PSA. This service will ensure that graded cards match their listings and are authentic. Initially launched for raw trading cards, it aims to bolster trust in high-value transactions. The trading card market surged significantly, with eBay reporting $2 billion in transactions in the first half of 2021 alone. This strategic move enhances eBay’s offerings within the growing collectibles market.

The Power of One Charity Auction Lunch with Warren Buffett returns on June 12, 2022, after a two-year hiatus. Hosted by GLIDE and powered by eBay, the event aims to raise funds for GLIDE’s transformative programs. Since moving to eBay in 2003, the auction has raised over $34 million. Winning bids often exceed $1M, supporting GLIDE's mission to combat poverty and inequity. Bidding opens at $25,000, with pre-qualification required.

eBay Motors has launched the inaugural New York Auto Parts Show to address car enthusiasts' needs amid supply chain challenges. The event, showcased from April 14 at the Classic Car Club of Manhattan, features Re-Concept Cars built by top auto builders, including actress Sydney Sweeney. The show highlights the potential of existing vehicles to be transformed using parts from eBay Motors, which saw a 158% increase in 'project car' sales. The event aims to inspire DIY builders and promote innovative solutions to car maintenance.

eBay Inc. (NASDAQ: EBAY) appointed Eddie Garcia as Chief Product Officer, effective April 18, 2022. He will lead eBay's Core Product organization, aiming to enhance the user experience as part of the company's tech-led transformation. Garcia, who has over 20 years of product leadership experience, previously held roles at Meta, Travelzoo, and Sam's Club. CEO Jamie Iannone expressed confidence in Garcia's ability to contribute to eBay's growth strategy. eBay continues to focus on building a customer-centric platform to unlock new opportunities for its users.

On March 10, 2022, eBay (Nasdaq: EBAY) held its first Investor Day under CEO Jamie Iannone, unveiling its long-term growth strategy and new tech-led initiatives. eBay projects a 5-8% decline in GMV for FY 2022 but expects revenue growth of 5-6% for FY 2023 and 7-8% for FY 2024. Key developments include the launch of the eBay Vault for trading cards and collectibles, aiming to hold $3 billion in assets, and a new digital wallet to enhance user experience. eBay aims to build a platform focused on non-new seasonal products to capture growth in collectibles.

On March 1, 2022, eBay unveiled the Trailblazers Collection, celebrating the contributions of influential women in sneaker culture. This exclusive collection, launched for Women's History Month, features iconic sneakers designed or inspired by women, including the NIKE AIR MAG and Air Jordan II Retro 'Violette'. eBay emphasizes the importance of female voices in sneaker culture, with over 2 million sneakers authenticated since the launch of their Authenticity Guarantee in October 2020. Additional activities honoring women in sneaker culture are planned throughout March.

eBay reported strong financial results for Q4 and full year 2021, with Q4 revenue at $2.6 billion, a 5% increase year-over-year. However, gross merchandise volume (GMV) declined by 10% to $20.7 billion. The company posted a GAAP net loss of $893 million, while non-GAAP net income stood at $647 million. For the full year, revenue grew by 17% to $10.4 billion, but GMV remained flat. eBay returned $3.1 billion to shareholders through buybacks and dividends. The firm is poised for future growth with its new payments platform and category expansions.