eBay released its full-year financial report, with performance growth exceeding expectations!

On February 23, eBay released its 2021 fourth quarter and full- year earnings report. eBay said its fourth quarter and full-year earnings were "better than expected." However, it is not difficult to find from the report that eBay also has weaknesses such as a decline in the number of active buyers and sellers and a decline in GMV in the fourth quarter.

The report showed that eBay's total annual active buyers were 147 million, a 9% decrease from the same period last year ; the total annual active sellers were 17 million, a decrease of 8% from the same period last year. eBay's stock fell more than 10% after the release of this earnings report .

eBay Fourth Quarter Financial Highlights

eBay's fourth-quarter revenue was $2.6 billion and its gross merchandise volume (GMV) was $20.7 billion.

GAAP net loss from continuing operations was $893 million and non-GAAP net income from continuing operations was $647 million. GAAP and non- GAAP operating margins were 26.3% and 31.6%, respectively .

eBay generated $475 million of operating cash flow and $372 million of free cash flow from continuing operations . In addition, eBay returned $3.1 billion to shareholders , including $3.0 billion in share repurchases and $107 million in cash dividends.

eBay Full Year Financial Highlights

In 2021, eBay 's annual revenue was US$10.4 billion and its gross merchandise volume ( GMV ) was US$87.4 billion.

GAAP net income from continuing operations was $252 million and non-GAAP net income from continuing operations was $2.7 billion. GAAP and non-GAAP operating margins were 28.1% and 33.4%, respectively.

eBay also generated $3.1 billion in operating cash flow and $2.6 billion in free cash flow from continuing operations .

In addition, eBay repurchased approximately $7 billion of its common stock and paid $466 million in cash dividends.

eBay is building a technology-led platform. In the fourth quarter of 2021, eBay expanded the certification of luxury watches to the UK and Germany ; the company's sneaker business continues to grow at a double-digit rate globally , and its luxury watches and handbags categories have also achieved double-digit growth in the United States. As of the end of 2021, eBay's certified refurbished program has also expanded to more than 320 brands.

"I'm proud of our team for delivering another quarter of solid growth ," said Jamie Iannou, CEO of eBay . "By investing in strategies that drive sustainable growth, we increased customer satisfaction and improved the experience for buyers and sellers. During the quarter, we grew our advertising business and focused categories, and we are well positioned for future growth as we continue to accelerate our strategy. "

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