Categories Analysis, Retail

Here’s a look at eBay’s (EBAY) expectations for the near term

For the first quarter of 2023, eBay expects adjusted EPS to be $1.05-1.09

Shares of eBay Inc. (NASDAQ: EBAY) were down over 2% on Monday. The stock has dropped 18% over the past 12 months. The company saw revenue and gross merchandise volume (GMV) decline in its most recent quarter while adjusted EPS grew versus the year-ago period. Here’s a look at its expectations for the near term:


In the fourth quarter of 2022, eBay generated revenue of $2.5 billion, which was down 4% year-over-year on a reported basis and 1% on an FX-neutral basis. For the first quarter of 2023, eBay expects revenue to range between $2.46-2.50 billion, which represents organic FX-neutral growth of 0-2% year-over-year.

Profits and margins

eBay reported GAAP net income of $671 million, or $1.23 per share, in Q4 2022 compared to a net loss of $893 million, or $1.47 per share, in the same period last year. Adjusted EPS rose 2% to $1.07. GAAP operating margin dropped to 22.5% from 26.3% last year, while adjusted operating margin fell to 29.9% from 31.6% last year.

For the first quarter of 2023, eBay expects GAAP EPS to be $0.77-0.81 and adjusted EPS to be $1.05-1.09. Adjusted operating margin is expected to range between 29.1-29.7%.

Gross merchandise volume

In Q4 2022, GMV was $18.2 billion, down 12% on a reported basis and down 6% on an FX-neutral basis. US GMV declined 9% YoY while international GMV dropped 4% on an FX-neutral basis. For the first quarter of 2023, GMV is projected to range between $18-18.3 billion, representing organic FX-neutral growth between negative 5% and negative 4% YoY.

Click here to read the full transcript of eBay’s Q4 2022 earnings conference call

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

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