10:54 h / 2022/05/05
Like many other online companies, Ebay was able to profit from the pandemic in recent months, increasing sales and pushing the number of its own retailers. However, the corona-induced flight of fancy is apparently over, as can be seen from the figures now presented for the first quarter: There, it can be seen that sales fell by six percent to 2.5 billion US dollars. The decline in gross merchandise volume (GMV) was even greater, falling by 20 percent year-on-year to 19.4 billion US dollars.
Profit also plummeted by a similar amount compared to the previous year: it amounted to 625 million dollars in the first three months, a drop of 16 percent. A look at the operating data also shows that the number of active customers has decreased: While it was still reported at 163 million in the March 2021 quarterly statement, it stands at 142 million according to the latest analysis. The decline here is minus 13 percent.
"Our team delivered another strong quarter, at the high end of our expectations," Ebay CEO Jamie Iannone commented on the numbers. "Despite the current macro headwinds, we remain confident in our long-term strategy [...]. We are building an Ebay for the future, with the goal of delivering long-term, sustainable growth. Our enthusiastic buyers continue to shop Ebay regularly, and our results to date show that our focus on categories is working."
However, the outlook for the coming months also looks rather bleak: According to current forecasts, the U.S. group expects revenues to fall to between $2.35 billion and $2.4 billion, below analysts' predictions. The figures sent shares in the online marketplace plummeting by around six percent in after-hours trading.