eBay InceBay reported strong Q2 results with revenue up 15% and net income up 51%, beating expectations.
eBay reported second-quarter revenue of $3.13 billion, a 15% increase on an as-reported basis. Gross merchandise volume rose 15% to $22.39 billion, while net income from continuing operations climbed 51% to $552 million. Advertising revenue reached $596 million, with first-party advertising products contributing $570 million, up 25% as reported. The results follow eBay's completion of its acquisition of Depop and its board's rejection of an unsolicited $55.5 billion takeover offer from GameStop. For the third quarter, eBay forecast revenue between $3.07 billion and $3.12 billion and gross merchandise volume of $22 billion to $22.4 billion.
eBay InceBay reported strong Q2 results with revenue up 15% and net income up 51%, beating expectations.
GameStop Corp.eBay's board rejected GameStop's $55.5 billion takeover offer, indicating the deal is unlikely to proceed.
eBay completed its acquisition of Depop, which may contribute to future growth.