Summary by Moomoo AI
eBay reported a 1% increase in net revenues to $2.57 billion for Q2 2024, with FX-Neutral net revenues up 2%. Operating margin improved to 21.3% from 20.4% in the same period last year. GMV rose 1% to $18.42 billion, while take rate slightly increased to 13.96%.The company completed the sale of Adevinta shares for $2.4 billion in cash and a stake in Aurelia valued at $1.9 billion. eBay recorded a $222 million loss on equity investments and warrant, primarily due to changes in fair value of investments and warrants. Cash flow from continuing operations was $367 million, down from $605 million in Q2 2023.eBay repurchased $1.0 billion of common stock and paid $135 million in dividends during the quarter. The Board declared a quarterly dividend of $0.27 per share. The company faces ongoing challenges from geopolitical events, inflationary pressures, and foreign exchange volatility, which are expected to continue impacting discretionary spending trends.
