American firm eBay's revenue up 1% to $2.6 bn in Q2 FY24

Gross merchandise volume (GMV) for the quarter reached $18.4 billion, up 1 per cent on both an as-reported and FX-neutral basis, the company said in a press release.

The company's GAAP net income from continuing operations was $226 million, translating to $0.45 per diluted share. On a non-GAAP basis, net income from continuing operations was significantly higher at $602 million, or $1.18 per diluted share.

eBay’s operating margins also showed solid performance, with GAAP operating margin at 21.3 per cent and non-GAAP operating margin at 27.9 per cent.

"eBay's strong Q2 results mark another step toward achieving sustainable, long-term growth," said Jamie Iannone, chief executive officer at eBay. "The continued momentum in focus categories contributed to our increase in GMV, while new AI capabilities are driving innovation across the platform and transforming the experience for eBay customers around the world."

ALCHEMPro News Desk (DP)